The country’s largest lender, State Bank of India (SBI), has seen a tremendous increase in transactions on many digital mediums (Digital Transaction). SBI chairman Dinesh Khara said on Friday that digital transactions at various banks of the bank had increased to 67 per cent, which was 60 per cent before the epidemic.
He said that e-commerce activities have increased rapidly due to lockdown restrictions during the epidemic, which has also led to an increase in digital transactions.
Khara said, “When e-commerce activities increase, acceptance of digital media increases. This is the reason why our digital transactions have now reached a high level of 67 per cent. Khara said, ‘I believe this is a very good figure. Considering that in the bank, we provide services to those consumers apart from being digitally aware, then they are not so skilled in digital transactions. He said that the availability of real-time gross settlement system (RTGS) round the clock and National Electronic Funds Transfer (NEFT) has also helped the bank to increase digital transactions.
3.5 million registered users of YONO
Khara said, ‘I think the high digital transaction has come due to the ecological system. A part of this has been achieved through the bank’s own efforts. He said that the bank’s digital lending platform YONO (YONO) has also registered good growth during the current financial year. Currently, the number of registered users of YONO is 3.5 crore. Khara said that the bank is opening 35,000 to 40,000 savings accounts daily through the mobile app.
Also read, Arogya Sanjeevani Policy: Now insurance will get up to 10 lakh rupees, these benefits will be