Everyone is eagerly waiting for results. I had this question which I need someone to shed some ligh

Everyone is eagerly waiting for results. I had this question which I need someone to shed some light on if they are able to. There was an article by Mint regarding an interview with Mr Mundra (deputy Governor RBI). As mentioned in the article, seems Mr Mundra said that if Account Number portability is to be implemented in India, India will be the first country to implement such a banking facility. So far as I am aware, account switching already exists in the UK since 2013. Lloyds Banking Group UK is the one I am sure of. Can some brief regarding which part of account switching exactly did Mr Mundra say "India would be first in the field"? Just curiosity, not doing any research

 

R u sure only about one bank? Lloyds Banking Group.... If it is implemented there in Uk,It should be for all banks.

 

All the banks would have to do it only if it is a regulatory decision taken by one of the regulators,for example decisions regarding FATCA and PCIDSS compliance. I am sure of LBG since I was part of the team that delivered the technology part of it.

 

Account switching can happen only if a few players agree to it. I do not think it was regulatory back in 2013 but more than 20 different banks signed up for it.

 

Tell us the date of Mint newspaper in which this article is published......We would also like to read these articles......

 

https://www.google.co.in/.../RBI-calls-for-account-number...