Page 3 - Sbi Yono

YONO biggest start-up by a legacy bank, worth over $40 bn: SBI chairman

Within three years of its launch, YONO, the digital banking platform of the country's largest lender SBI, has a valuation of over USD 40 billion, the bank's chairman Rajnish Kumar said on Wednesday. The bank is also working on creating a business-to-business (B2B) platform for bill receivables, called 'Bharat Draft', which will have all the MSMEs registered, he said. SBI had launched the YONO platform in November 2017 to help its customers' banking, investment and shopping needs. Speaking at an event organized by ETBFSI.com, Kumar said YONO, which is an acronym for You Only Need One, is a profitable platform and rued that no one gets to know its valuation because it sits within the bank. "Only thing is that because it is sitting in the bank, it does not get reflected in the valuations. If it was sitting outside banks, my valuation would bemay be USD 40-50 billion for YONO given the valuations which the start-ups get," he said. Kumar, whose three-year term as the chairman comes to

SBI board to meet on Wednesday for tier-I and II capital raising plans

Plans to double registration for its digital-banking app Yono within next six months, from current base of 24 million

Not offering any emergency loan through YONO platform, clarifies SBI

SBI, however, said it is in the process of introducing a pre-approved personal loan offering through YONO to provide relief to its salaried customers during Covid-19 crisis

State Bank of India plans to open nearly 10 lakh YONO Cash Points

The bank has no plans to discontinue debit cards but increased use of the digital platform will itself reduce the requirement of the debit cards, SBI Chairman Rajnish Kumar said

SBI aims to eliminate debit cards to promote digital payment solutions

SBI chairman said through the Yono platform, one can withdraw cash at the automated teller machines or pay for purchases at a merchant establishment without having a card at all

SBI plans to expand user base for Yono to 250 million in next 2 years

Through Yono, customers can open an SBI bank account digitally, transfer funds, avail of pre-approved personal loan

SBI pushes for digital to improve cost efficiency

Finance Minister Arun Jaitley will tomorrow launch SBI's 'Yono', a lifestyle and financial services mobile app