VITALINFO: Can the RBI innovate?It is not just in the area of credit risk assessment, measurement, management and the rising NPAs that require innovative and out-of-the-box thinking. sometimes it is better we go back to the basics and introduce new measures that would have relevance for future and the present.
Even after the core banking solutions are across the board in all the banks, why should different accounts have different cheque books? One cheque book should be adequate that can be used against all the deposit accounts of the account holder. This would save a few millions of rupees of secured stationery apart from the customer having to face litigation for issuing a cheque in one account where the balance dried up on account of application of a standing instruction or even some miscalculation but having adequate balance in other account. This is a very simple innovation that can be immediately introduced.
There will be many more simple customer friendly innovations that existing technologies can bring forth saving costs for both the bank and the customer.
Good idea however choice should be given to customer to use
ReplyDelete1) Different cheque books for different accounts
or
2) One cheque book for all his accounts.
However, question is one cheque book for all accounts of same bank or all banks?
My suggestion is AADHAR linked PAN and it is to be used to UNIQUE id for all Bank accounts across banks which will save. A detailed study o be conducted pros and cons and to introduce.
Though is very good
Satyam Repala
Bank Manager of MNC bank
aadhar