expresspackers
Jul 15, 20227 min
Updated: Dec 11, 2022
In last few years, increased number of customers preferring to hire IBA approved Packers and Movers Companies for packing and transport their goods from one location to another, across cities and states. There are many reasons for this but that most obvious is IBA approved movers and packers companies are licensed, vetted and registered by Indian Bank Association after exhaustive background check and documentation and hence these companies can be trusted for their genuineness, experience and professionalism.
What is IBA or Indian Bank Association.
Indian Bank Association is a financial industry body having Public Sector Banks, Private / Foreign / Cooperative Banks and other financial institution as its members. Established on 1946 with 22 members to discuss issues of common interest for banking sector, IBA has a consultative approach towards reaching consensus amongst its member banks to issues pertaining to banking and financial industry while maintaining healthy competitive spirit amongst its members. Today it has close to 300 members including Public Sector Bank, Private and Foreign Banks, Cooperative Bank and Financial Institutions. It has Ordinary and associate members.
IBA Vision: To work Proactively for the growth of a healthy, professional and forward looking banking and financial services industry, in a manner consistent with public good.
Video : Indian Bank Association
IBA is a representative body for Banking and financial institutions and part of its working objectives and principles are:
To pool together talents and resources available with members and to organize exchange of expertise and experience of its members for simplifying procedures, for reducing cost of operations, increasing efficiency and productivity.
Generally to do all and any other thing that may be necessary or relevant for the realization of the objects and purposes of the Association directly or indirectly.
IBA approves, registers and recommends service providers for various services to its members including packers movers & transport operators, Agencies for specialized monitoring (ASMS), Security printers for printing MICR instruments and Forensic auditors as these are regularly used services by Banks and their employees.
As Public sector bank employees relocate regularly across country, they regularly use packers movers services. Many a times, Bank Employees are cheated and harassed by unregistered and unregulated household goods shifting companies. To avoid such a situatation, IBA registers and approves packers and movers companies based on mentioned criteria which can be used by its members.
IBA has strict requirements and documentation for empanelment of packers movers and transport operator under IBA scheme for recommending transport operators to Member Banks and their employees.
1. Transport operators and Packers Movers Companies who own a minimum of seven Heavy Commercial Vehicles- Trucks(HCVs) or Light Commercial Vehicles(LCVs) (2 LCV Containers will be considered equivalent to one Heavy Commercial Vehicle. These HCV or LCV Vehicles must and possess national or state permits.
2. For Public and Private Limited Companies the vehicles / containers should be registered in the name of the company and same should be reflected in the company's audited balance sheet.
3. For Proprietary/Partnership firms, the vehicles and containers may be registered with proprietor / partners or the Firm but the same should be reflected on the audited balance sheet.
4. The applying company's Profit and Loss Account, the Balance Sheet and the Schedule of Fixed Assets should be audited by their Chartered Accountants. Capital requirement for the Scheme should be more than Rs.20 Lakhs.
5. Transport operators should have their own OFFICES/BRANCHES or AGENTS in more than one state. These offices or agents are authorized to book consignments and issue Bank Bilty and Lorry receipts.
6. The transport operator and packers movers company should submit an statement showing all routes by the company.
7. If the company has more than one business, the goods transport business should be more than 50% of the total business of the company.
8 . The Transport Operator should carry goods at Carriers Risk which implies that even if the Bank employee / customer does not insure the goods during transportation, the packing moving company shall be responsible for any damages / breakages and other claims.
9. The Company should be more 2 years in packing moving and transport business.
Every year IBA approves and enlists packers movers companies after submission of supporting documents and fulfilment of empanelment criteria.
This is a updated and comprehensive list of IBA Approved (Indian Bank Association) transport operators and Movers Packers companies.
IBA Approved packers movers companies in
5 reasons to hire IBA approved packers and movers in Bangalore
Multiple advantages and benefits of hiring IBA Approved and registered packers movers and transporters for your relocation needs, the most enticing being that these moving companies are trustworthy and thoroughly validated by the Indian Bank Association ensuring your goods are safe and the moving company is responsive towards your requirements. They offer quality services. Reasons to hire IBA approved packers and movers are as follows-
A good and safe moving process starts with research for finding a professional and reliable moving company. This requires lot of research and is time consuming process. Hiring a IBA approved and recommended packers movers companies saves you time and effort required to find good moving company since IBA has already checked and validated the documents and verified the credentials of the moving company. The chances of frauds, scams and dishonest services diminish considerably (almost negligible) by engaging IBA approved household goods shifting companies.
It it important to insure the Household and personal goods during packing and transportation process. As per industry standards, Insurance is not the part of relocation process and the customers are charged a percentage of value of goods towards the insurance charges. It is customer prerogative to avail the Insurance of goods through the moving company or get a insurance coverage directly from a general insurance company. In absence of Insurance, the moving absolves itself of any settlement of claims arising out of damages, breakages and loss of goods during relocation process.
As per criteria for registering themselves under the IBA transport operators scheme, packers and movers have to give an undertaking of providing carrier-risk insurance to the customer. This means that even in absence of any specific transit or comprehensive insurance of the goods by the customer, the goods shall be transported on carrier risk (transporters risk) and not customer or owners risk. The transporters take all the responsibility towards safe transportation of goods and claims arising out of damage or loss of goods should be compensated by the relocation company regardless of third party insurance of goods. Hiring a IBA Approved packers movers saves insurance costs for the customer and simplifies the claims process since he does not have to provide any documentation or run after the insurance company.
Indian Bank Association (IBA) approves and recommends packers and movers for region-wise services as per their infrastructure and resources. This ensures that the moving companies has resources and manpower to serve its customers without depending on third party. IBA approves companies which has a minimum number of company owned vehicles, offices to book consignments, warehouses for safe transit and storage of goods and ample (minimum 2 years) experience in packing moving industry ensuring customers can be sure of dealing with a professional, experienced and resourceful relocation company.
Being approved and recommended by IBA gives a huge advantage of credibility and approval to the registered packers movers companies. They also get good volume of business from Bank and financial institution employees who are members of IBA. Due to these reasons, Indian Bank Association approved packers movers companies ensure IBA members are treated professionally and honestly, provide safe and reasonable services and resolve any claims at the earliest so that these transport operators remains preferred IBA approved movers and their registration is renewed without any issues. In case of non-resolution of complaints or frauds, IBA can intervene on behalf of its members and negotiate the settlement of claims and resolution of complaints. IBA carries a huge reputation of a respectable association with a long history and has a backing of banks and financial institutions which gives it credibility and tall standing to negotiate with erring moving companies.
Major benefit of hiring IBA approved relocation companies is dealing with professional, trustworthy and experienced companies with trained staff, company owned vehicles, offices at multiple locations for booking and delivery of goods and warehouses to store goods if required. IBA only approves companies having packing and moving experience and a proven track record. It also checks and verifies the registration documents, resources, complaints and compliances before recommending moving and transport operators to its members.
This is the official disclaimer that IBA.org.in has added for its IBA scheme for recommending logistics & transport companies including packers movers companies to member banks.
DISCLAIMER :
“The IBA Scheme for Recommending Transport Operators to Member Banks is formulated only for the use and guidance of the Member Banks of IBA to facilitate lending against the security of Motor Transport Receipts issued by the Transport Operators.
Any third party dealing with such Transport Operators relying on IBA recommendations, do so entirely at their risk and neither IBA nor any of its officials shall be responsible for any negligence, default, failure to take reasonable precautions, mala fides or criminal or fraudulent actions of the Transport Operator or any of its Managers, Agents, Employees, Partners, Directors, business associates, branches or any other persons engaged by the Transport Operator.”
IBA approved packers movers Bangalore rates are depend on multiple factors parameters:
Volume of Household Goods and Furniture.
Packing material and manpower.
Delivery location distance.
Loading & Unloading of Goods.
Any special personalized requirements.
The IBA Approved transport companies rates are one of the most reasonable packing moving rates in Bangalore. One of the major reasons for these reasonable and competitive prices in Bangalore is competition and availability of reasonable, professional and safe moving companies.
IBA approved packers in Bangalore will provide bank approved bank documents and transport bill as per the standard bank format that will facilitate fast approval and reimbursement of transport charges from the bank.
We are in the top list of IBA Approved packers and movers in Bangalore. We have been the best and top rated Approved packers and movers in Bangalore and take immense pleasure in providing sensible movers packers services and satisfying our customer to the best of our ability and to customers expectations.
In conclusion, IBA approved packers movers companies are more trustworthy with their documents, credentials, resources and track records thoroughly checked and validated by Indian Bank Association. This makes it wise and prudent to hire IBA approved moving companies for packing and shifting services for safe and well executed Intercity and Interstate relocations.