The finance ministry’s ambitious plan to implement portability in savings accounts has not found favour with the Reserve Bank of India (RBI). The central bank has told the ministry there is no advantage to customers nore to banks from such a plan. “Savings bank accounts cannot be equated with a mobile number,” said a source in RBI. Adding: “The view has already been communicated to the government”.
http://www.business-standard.com/india/news/savings-account-not-mobile-number-rbi/462557/
.
