FLASH NEWS local government commission - draft special rules for integration published

Jan 3, 2012

Bank Account Number Portability Soon

Indian customers soon be allowed to switch banks without changing abount numbers like mobile number portability govt plans to introduce bank account number portability.The idea is to save customers the inconvenience of opening and closing bank abounts or opening multiple abounts if they have to shift to a new locations or find their banks services unsatisfactory.
The finance ministry has started discussions with RBI and banks in india with this matter.In a Step towards this direction all banks will be asks to follow Common Know Your customer norms.

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