 "Yono 2.0 likely to launch by end of December: SBI Chairman C S Setty")
State Bank of India is likely to launch its upgraded version of mobile banking app Yono 2.0 by the end of December. The new version will be capable of handling 200 million customers, said SBI Chairman C S Setty.
“We are aiming for a commercial launch in the current quarter, mostly at the end of December. You will see a brand new app of Yono 2.0, more intuitive. We have completely refreshed the technology,” said Setty.
The country’s largest lender has 93 million mobile banking customers and 100 million internet banking users. “For them to have a common experience, we have completely revisited the code,” Setty said.
At present, there are 93.5 million registered users on Yono, with 64 per cent of savings accounts opened through Yono in Q2FY26.
Separately, Setty said the overall impact on SBI for transitioning to the expected credit loss (ECL) framework for loan loss provisioning will be minimal as there is a four-year period of spread the additional provisioning requirement.
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