Banking in India is now subjected to 2 stage verification with OTP. Additionally, at least one bank has started a policy of “1 Account = 1 Cell Number” for its customers. The rule applied to be - multiple accounts means multiple cell numbers unless the accounts in question can be/are linked. This raises several situations as explained below. Can knowledgeable members please respond to the following examples of accounts? Assume these accounts are in the same bank, but not necessarily in the same branch.

a) What RBI regulation stipulate different cell phone registration for different accounts in the same bank?

b) If there are 2 accounts in the same Bank, account No 1 held jointly by Mr. X and Mrs. X and account No 2 jointly held by Mr. Y and Mrs. Y in a different branch, and Mr. X has the mandate to operate the second account of Mr. Y and Mrs. Y, do these accounts require two separate cell numbers for its operations, as implemented by at least one Indian bank?

c) can these 2 accounts in (b) above be linked with the same ID and Password to overcome the problem of having to have a separate cell number for a second account? Note, Mr. X is not a beneficiary of Mr. & Mrs. Y’s account.

d) If the 2 accounts in (b) above cannot be linked, can these 2 accounts be operated (log in) under 2 different User IDs and 2 different Passwords but the same cell number registered for both accounts as Mr. X is mandate holder for the Mr. Y / Mrs. Y account?

e) If the answer to (d) above is ‘NO’, how can Mr. X manage to fulfill his duties as a mandate holder if he happens to be a trustee or an executor or relative /well-wisher of differently-abled people or senior citizens whose children live abroad unless he now keeps multiple cell numbers to operate these accounts?

f) A similar scenario exists where Mr. X who wishes to help his own employees / domestic staff to be digitally connected (to bank accounts) but they are not computer /smartphone savvy and they wish to avail facilities of PM Pension yojana, PM life insurance schemes, other government subsidies/benefits, how can Mr. X be expected to keep separate cell numbers for each of these accounts?

Dilip Modi

g) What other options are made available by the Banking Regulator / Indian Banks to facilitate Mr. X’s duty to manage such scenarios? more  

View all 6 comments Below 6 comments
Cell no should be depositor wise per branch. more  
An individual opens multiple bank A/cs for multifarious needs. Therefore, such A/c holders need be consulted by the bank , whether their should be a common telephone number OR different telephone numbers. Some banks ( e.g. the State Bank of India has changed the telephone number linked to an A/c - even without any intimation,not to speak of obtaining consent, from the A/c Holder. more  
Generally, banks consider the first account holder as the signatory for many services. As such, if the first account holder has given his phone number in multiple accounts, it will become a problem. Even otherwise Govt. is asking the banks to merge the various accounts of an entity in the same bank in one city, wherever possible. Many borrowers including farmers take loan from one bank and deposit the sale proceeds in another bank just to avoid repayment of loan. Linking of accounts with aadhar/phone number will take care of many ills prevailing in the banking system. more  
Sir The question here is about an account holder giving a mandate to a third party to manage his account. A bank now refusing to allow this third party cell phone with the mandated account is the problem. Further, deleting the cell number after 10 years of allowing it without even notice or an alert! more  
Very valid points raised. The Banking regulator needs to step quickly before other banks start following the said example. This is mischief. How many cell phones one will keep if tomorrow banks in India decide that one mobile number can be used to operate only one bank account. more  
1) Formation of Account itself require Phone Number. In certain cases narrated, Phone Number and an Authorized Identity also becomes Necessary. 2) For Joint A/c Formation and Operation Phone Numbers of Partners and Identity in case of Certain status also becomes Necessary. 3) Interest of Joint A/c Holders as well as Accountability need to be considered. 4) Security SMS Call need requisite Phone Number . 5) Many may not have Net Banking Skills/ Interest as well, they Open Accounts in different Towns or even different Stages. 6) Therefore , Branch of a Bank need to have its declares Contact Phone Number and it is for the Security of the Customer. more  
Sir, yes a cell number is one essential way to secure an account but we can't have banks dictating what cell number the account holder wishes to register with the account. Here, the issue is a bank deleting a cell no of a person mandated by the account holder to manage his account and that too without notice or alert, after 10 years of operations with the same cell number. On what grounds can one tolerate such unilateral action? more  
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