STATE BANK OF India (SBI) intends to reach the first milestone in its journey to make Yono an app for every Indian in March 2023, by onboarding 100 million customers, chairman Dinesh Khara told FE in an interview. The lender hopes to mobilise 1 trillion worth of assets through the mobile app this year compared with ₹62,000 crore in FY22. SBI today has 450 million customers while Yono's customer base stands at 52.5 million.
"We've given ourselves a year to take Yono to a larger number of customers, having started in February-March. The idea is to take it to a point where customers can do payments transactions before they come into the login screen, like it is done on other payment apps like Google Pay," Khara said. About 65% of the bank's fresh liabilities sourced were through Yono last year.
This story is from the August 09, 2022 edition of Financial Express Mumbai.
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This story is from the August 09, 2022 edition of Financial Express Mumbai.
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