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Mundra suggests banks work towards account number portability

The Reserve Bank of India is keen that banks pursue the issue of account number portability. The central bank’s deputy governor S.S. Mundra said banks should work towards this like in the case of the telecom sector. He feels this would enhance competition and improve customer service. He said banks should look forward to providing more choices to the new generation of customers who are tech-savvy and a scenario was thus emerging wherein customers would be able to silently walk out from one institution to another, in the case of any dissatisfaction with the services.

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