SBI to launch mobile banking service soon

 Initially, the bank plans to offer basic banking services to its customers.These would include money transfer, account status enquiry and cheque book order, while other services such as bill payments and buying movie and travel tickets would be introduced later, the official said."Transaction costs of our customers will come down. Besides, it will also enable them to perform their transactions faster," the official said.

SBI's entry into mobile banking is also expected to give a fillip to the government's ongoing efforts to achieve financial inclusion, given the large customer base of the bank and its extensive reach in rural areas.

SBI, the country's largest lender, presently, has over 10,000 branches across the country. Last fiscal (FY08), it opened 954 branches.The bank plans to add an additional 2,000 branches this fiscal, which when completed, would take its branch network in the country to around 12,000, the official said.