NOW YOU CAN PORTABILITY OF BANK ACCOUNT LIKE MOBILE NO.

RBI Deputy Director S. S. Mundra has instructed banks to work towards account number portability as it is a step to increase competition and improve customer service.

Recently, during the annual conference of the Banking Ombudsman, he said banks should come forward to give more choices for the new generation of customers who understand more technology.

RBI said in a statement, "This situation will arise in which customers will be able to comfortably settle from one institution to another."

Mundra said that more emphasis will be placed on the possibility of portability of these accounts and banks have been instructed to work towards account number portability.

Mundra mentioned a growing trend in the dropbox check loss and referring to the trend by banks to resolve such complaints. In such cases, the deputy governor suggested that the customer "should be compensated immediately"

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