<!--QuoteBegin-SSam+Sep 7 2006, 02:11 AM-->QUOTE(SSam @ Sep 7 2006, 02:11 AM)<!--QuoteEBegin-->I just heard a strange story about India's funny banking system, and I want to know if it's really true. I heard that you need to open a new bank account if you decide to move to a different place even if you have been using the same bank all along. Is this true?
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it used to be true until a decade back, when branches were not digitally networked. And nothing particularly funny about Indian banking system in this - it was just like this anywhere else in the world too.
After banking network digitization, one doesn't need to move the account. I have myself moved from many places to many places within India and even abroad, maintaining the same bank account all along.
Check out ICICI bank (http://icicibank.com/) second largest bank in India.
[right][snapback]56939[/snapback][/right]
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it used to be true until a decade back, when branches were not digitally networked. And nothing particularly funny about Indian banking system in this - it was just like this anywhere else in the world too.
After banking network digitization, one doesn't need to move the account. I have myself moved from many places to many places within India and even abroad, maintaining the same bank account all along.
Check out ICICI bank (http://icicibank.com/) second largest bank in India.