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About Viral Dholakia

Viral Dholakia is a Freelance writer for financial magazines & is passionate about blogging and Capital Markets. Stay in touch with him at bull4bears-at-yahoo.co.in or on Twitter at @viralsss

10 comments

  1. GREAT JOB I WANT BANK AC NUMBER PORTIBLITY FOR MY ALL MUTUAL FUND AND ITS SIP ,ECS, AND ALL INVESTMENT . FOR ALL INVESTMENT IT IS VERY GOOD. SOME BANK DONT GIVE GOOD FACILITY THEN WE CAN CHANGE THE BANK WITH SAME AC NO. . BECAUSE OF IT BANKS IMPROVE THERE SERVICE. TO KEEP THERE CUSTOMER. IT IS ALSO GOOD FOR NON MAINTAIN AVERAGE MONTHLY/QUATERLY BALANCE SOME BANK AXIS,ICICI,HDFC 10000 AND SBI 0 BALANCE

  2. Gopinath Chettiyar

    goodd

  3. STC Technologies

    I have very happy by Bank has raised the savings deposit rates to 7%.

  4. hiiiiiiiiiiiiiiii

  5. A very few number of people might require this, not on a large scale as mobile number portability. Doesn’t sound very useful to me as of now. On the contrary, our government should think of directing the mobile operators to give us unlocked iPhones/data cards.

  6. Naveen Honnalagere

    why Savings bank account number portablity? Very stupid Idea! I wonder how one can get these silly ideas when Govt have some great challenges like high inflation, depreciating Rupee against other major currencies, decelerating growth, shrinking credit portfolio, falling market, high interest rates etc… Govt is struggling hard to get out of these financial problems, instead of thinking of solving these issues; govt is addressing an issue to help (?) bank customers which is not at all a problem. Bank a/c numbers are not mobile number to get shared with everyone. It will be shared for specific purpose. The account of a customer in a bank is identified by 2 parameters, the account number and the IFSC code. There was uniformity in mobile number, where all service providers has given 10 digit numbers (with-out alphabet) for their customers, and mobile number was only parameter to be remembered. Its not same in the case of saving bank account numbers. Govt has permitted Banks to have its own account number format, SBI and its subsidiaries have 11 digits, HDFC 14 digits, Karnataka Bank 16 digits, Vijaya Bank 15 digits, some banks have Alpha-numeric account number say corporation Bank. When there is no uniformity in account number format how can we have same account numbers when we change the bank? If all banks go for uniform account number format all most all account numbers except few banks will gets changed. Rather than helping customers, it will irritate customers. We have given account number for our investments, some are more than 7-10 years long. If the account number changes how can we handle the redemptions. Banks have invested a lot of money to develop/buy the softwares which are already in use. If govt still insists banks to go for “Saving bank account number portability” then banks have to invest some more money in softwares for additional customization, not from their pocket but definitely Passover the burden to customers. Will it really help customers? When a customer wishes to share the bank a/c details, he should share account number and IFSC. When a customer changes a bank any how he should change IFSC as it is different for different banks and branches. Then what is the use of “Saving bank account number portability”? We really expect the govt spend its IIM-IQs to solve major issues the financial sector is facing which will help everybody than giving the nonsence ideas like "saving Bank account number portability". Naveen Honnalagere

  7. I think this move will not help any one. First of all, let me explain the differences between Mobile No. Portability and Bank a/c no. portability. Most of us choose the mobile number ourselves. We make sure that the number has some fancy figures or digits which can be easily remembered or some sequential numbers. It depends on person to person and on availability of such numbers. Where as when we open a Bank a/c, the Bank gives us a a/c no. based on the running serial number. We give our mobile number to friends, relatives, business associates so we require a fancy number (which can be remembered with a little effort). Where most of us consider our Bank a/c no. a confidential issue. Unless specifically required we dont disclose our a/c no. Therefore I dont think any one has a sense of belonging while dealing in bank a/c no. Also a bank a/c no. depends on the bank’s own procedure. Small town banks have a 5 digit s/b a/c no. while big players allot a 13 digit number. Just imagine a 13 digit a/c no. getting transferred to a bank dealing in 5 digit numbers. The whole idea to me looks like Kharcha jyada, fayda kam. Just that the govt want to show to the nation that it is doing soooooo much for its people. I can understand if govt allows people to keep the car number plate if we sell old car and buy a new car. But Bank a/c no.?? For me its a bouncer. Dont get it. Just my two paisa :)

    • Stocks Tips Intraday

      I really agree with Altaf. I think bank A/C. number is not very common in our circle. we never share our bank A/C. with our friends, therefore no need to remember that or sticking with that. concerns are arising for business owners who frequently use their A/C number. This facility will actually relax them .

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