 "RBI, reserve bank of India")
S S Mundra, Deputy Governor, RBI on Tuesday said that inter-bank account portability will result in customers silently moving away from one bank to the other and advised banks to prepare for this eventuality.
He said that digital banking will play a huge role in enabling bank accounts to be ported with the same ease as mobile numbers. Mundra added that NPCI’s extensive efforts and development of apps like Bhim, IMPS and UPI among others have brought this abstract concept into the realm of reality. He also called upon the Indian Bank Association (IBA) to take adequate measures to facilitate
