SBI targets digital money transfers of Rs 10 million in FY18

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SBI has set a target of achieving digital transactions to the tune of Rs 10 million in value in the current financial year by reaching 5.2 lakh touch points.

SBI, digital money, money transfer, India

SBI said the bank has been extremely successful in furthering government’s digital agenda. Various initiatives as part of Digital India and Digi DhanMela campaign launched by the government have been implemented.

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Outlining the various steps, SBI has adopted 110 villages across the country to develop digital ecosystem. The bank will engage with NGOs and students for promoting and onboarding merchants under digital channels.

Under Nabard scheme, the bank targets deployment of 25,000 terminals at 12,500 villages. SBI has also launched various online and offline campaigns and collaboration to promote usage of digital platforms for transactions.

SBI chairman Arundhati Bhattacharya said that during the past 2-3 years, technology has become integral to banking operations. Digitisation enables efficient, riskless and hassle free banking for customers.

Rajnish Kumar, MD, SBI, notified that UPI & Aadhaar pay are two very innovative platforms which will lead to efficiency in costs and provide convenience to customers.

By Baishakhi Dutta

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