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Savings bank account number portability in India soon

New Delhi, 3 January 2012: Ministry of Finance India plans savings bank account number portability, in the lines of the mobile number portability.

The ministry plans to introduce SB account number portability in India soon which will allow the customer to retain the account number and change the bank.

This was confirmed by financial services secretary D K Mittal in a press meet. He added that banks introudce identification code, know your customers (KYC) norms and core banking solution ( CBS) before implementing the savings bank account number portability.

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