Portability system, after being comfortably implemented in insurance and mobile space can soon find place in banking space also. The Finance Ministry has already started working in the direction of savings bank account number portability.

The system, if implemented will prove beneficial for the customers. It will allow them to switch their bank without worrying, as the account number will remain the same.

However, the banks will have to strengthen their systems and techniques on identification code, Know-Your-Customer (KYC) norms and Core Banking Solutions (CBS).

Finance Services Secretary, Mr. D. K. Mittal said, "We want to do it (savings a/c number portability). Right now there are some technical problems...we have identified them. We will overcome them soon."