Being a systemically important financial institution, the bank has to maintain a higher level of CAR than its peers
SBI Payments is a subsidiary of India's largest lender State Bank of India
Globally, payment solution providers such as Visa, MasterCard and PayPal are displacing traditional banks in the pecking order
Offers include 100 per cent waiver of processing fee for all customers applying for car, gold, and personal loans through Yono
The subsidiary will get its revenues streams by providing services to financial sector players, says lender
In a report dated August 20, CLSA upped the target price on the stock to Rs 310, translating into 59.2 per cent upside from Thursday's closing price on the BSE
To use digital banking platform YONO extensively to cut-down on response time and scale up activity for it
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
State Bank of India (SBI) is all set to launch India's first comprehensive digital service platform, YONO, which stands for 'You Only Need One'.An integrated omni-channel digital platform that offers just about everything related to financial services and lifestyle products, YONO will be launched by Union Finance Minister Arun Jaitley in New Delhi on November 24.Offering the millennials banking and financial services, YONO will allow its customers to meet their lifestyle needs across 14 categories including booking and renting cabs, entertainment, dining experience, travel and stay, medical needs and so on.For the digital platform, SBI has partnered with over 60 e-commerce players to provide customized offers and discounts to its users.Some of the key e-commerce partners include Amazon, Uber, Ola, Myntra, Jabong, Shoppers Stop, Cox & Kings, Thomas Cook, Yatra, Airbnb, Swiggy and Byjus, among others."Customers will be able to seamlessly access lifestyle offerings and financial ...