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S C KHOSLA (Ex - Scientist `F`& Head (SPPD))     07 January 2012

Savings banks account number portability

Savings Banks Account Number Portability

Financial services secretary, DK Mittal has said that the government is working on savings banks account number portability. This comes at a time when the central bank, Reserve Bank of India has favoured looking into the matter once every account holder has a number issued by the Unique Identification Authority of India or UIDAI.

Mittal, however, said that banks would have to work on identification code, know your customers (KYC) norms and core banking solution ( CBS) for implementing the savings bank account number portability.

 

Source : https://articles.economictimes.indiatimes.com/2012-01-03/news/30584588_1_number-portability-infusion-in-psu-banks-process-of-bank-recapitalisation



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