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SBI Sees A Huge Jump In Mobile Banking Transactions

Updated: January 31, 2015 6:15 am

The State Bank of India (SBI), country’s largest commercial bank, has continued to lead in mobile banking space according to Reserve Bank of India (RBI) data. The bank has seen around 46 per cent growth in the CY 2014 compared to CY13. In 2014, 12.5 million customers transacted on mobile compared to 8.57 million customers in 2013. As a part of financial inclusion programme, SBI created more awareness amongst its huge retail and regional customer base. “India has just witnessed the launch of message-banking. We are confident that once this is understood by people, there will be an explosion of banking activities in the mobile space. “Mobile banking will also play a large part in the role of the yet-to-be-launched payment banks with which SBI plans to have tie-ups,” SBI Chairman, Arundhati Bhattacharya said in a statement.

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