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RBI asks banks to enable account number portability
Posted on: 01/Aug/2017 9:56:00 AM
The news is being gathered that the Reserve Bank of India has been seriously exploring the possibilities to bring in a new system whereby it is possible for the account holder to change his/her bank without changing the account number.
In a parallel operation, there already is a prevailing scheme for the cell phone users where they can change the service provider network without changing their cell phone numbers.
This facility is known as mobile number portability.
Now, RBI, taking this cue, is understood to have requested all the banks to start a similar service, Account Number Portability to facilitate the customer to transfer his account to another bank without any change in the account number.
The Deputy Governor of RBI, S. S. Mundra, explained in this regard, that various activities are being initiated to improve the customer service quality by having a running healthy competition among the banks in this aspect.
He had already been informing that the advent of the latest technology and the linking with Aadhar card should enable to facilitate the introduction of this account number portability. However, it is learnt that banks, in their response, have indicated a lot of practical difficulties in implementing this facility and have not displayed much interest on this.
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