Business Standard

SBI achieves 100% target of opening accounts for DCT in Maharashtra, Goa

Launches mobile wallet facility for Mumbai, Delhi Customers

Related News

(SBI) has achieved almost 100% target of the opening of the bank accounts in the districts where it is a lead bank for (DCT) scheme. In Nandurbar district, it has achieved 100% coverage while in North Goa district it has been able to open 99% of targeted account. In North Goa, scheme is set to roll out from February while in Nandurbar it is scheduled to start from March.

In other 5 districts of Maharashtra and Goa where the scheme is set to roll out in the first phase we have been able to open 95% of intended account, said JN Misra, chief general manager (Maharashtra and Goa), SBI.

Meanwhile, today formally announced the launch of its mobile wallet facility. In mobile wallet, the customer doesn’t require to have an account with SBI. Customer can put a balance of maximum Rs 10,000 and can transact up to Rs 15,000 in a month. However, the cap on the amount transacted is Rs 5,000 per transaction. The limits are in place because this wallet doesn’t require any kind of KYC. However, if KYC is done, customer can avail higher transaction limits. 

The wallet also doesn’t require any particular mobile operator or handset. It also can be operated with SMS also. Currently, this would be available only in Mumbai and Delhi, and the bank plans to roll out the same in the rest of the country gradually. Using wallet a customer can carry out transactions like mobile phone recharge, DTH top up, remittance to other bank accounts, etc.

The bank has about 54 lakh customers using its mobile banking facility and plans to double this in the next one year. SBI is taking various steps to shore up its low cost CASA base. Launching of the mobile wallet is one of them. The bank also plans to have about 1 lakh point of sales (PoS) terminals by March and it has activated about 54,000 PoS till date. SBI had a CASA ratio of 44.95% as of September quarter down from 47.43% a year ago.

Read more on:   
|
|
|

Read More

RBI to infuse Rs 8,000 cr through OMO on Jan 4

"Consistent with the stance of monetary policy and based on the current assessment of prevailing and evolving liquidity conditions, the Reserve Bank ...

Quick Links

More news from Finance Rss icon

SBI defends loan to Adani, says money disbursal after scrutiny

The loan will go through proper due diligence both on credit side as well as on viability side, said the SBI chairperson

FM discusses steps to control NPAs with PSU bank chiefs

Asks them to ensure smooth credit flow to projects

Black money concerns over relaunched Kisan Vikas Patra

But finance ministry maintains all KYC requirements will be followed

Back to Top