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RBI asks banks to enable account number portability

In such cases, the Deputy Governor suggested that the customer "must be compensated immediately"

Press Trust of India  |  Mumbai 

SS Mundra
RBI Deputy Governor SS Mundra

Deputy Governor has asked to work towards as it will be a far-reaching step towards enhancing competition and improving
 
Speaking at the annual conference of here recently, he said should look forward to providing more choices to the new generation of customers who are more savvy.
 
"A scenario was thus emerging wherein customers would be able to silently walk out from one institution to another, in case of any dissatisfaction with the services," said in a release on Monday, quoting Mundra.
 
Mundra said this will be further accentuated with the possibility of portability of and urged the to work towards
 
Mundra also referred to issue of the rising trend of loss of from drop boxes and the lack of alacrity shown by in redressing such complaints.
 
In such cases, the Deputy Governor suggested that the customer "must be compensated immediately".
 
He asked the to look at the the possibility of setting up a common account and compensate the customers immediately from the pool, without waiting for recovery of the amount from
 
Referring to the tenets of the Charter of 'Customer Rights', Mundra asked the lenders and the Indian Banks' Association (IBA) to work towards evolving a common platform to provide a comparative and transparent view of various and

First Published: Tue, August 01 2017. 01:23 IST
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