SBI plans to expand user base for Yono to 250 million in next 2 years

Through Yono, customers can open an SBI bank account digitally, transfer funds, avail of pre-approved personal loan

State Bank of India (SBI) is planning to expand the user base for its Yono (you only need one) to 250 million in the next two years. The country’s largest lender is also planning to integrate Yono and buddy, its mobile wallet. 

At present, 2.5 million users are registered under Yono, the digital platform offering financial services, lifestyle products and services of the SBI.

The bank has ambitious plans to push Yono, which was launched last year, and increase the user base to 250 million, SBI chairman Rajnish Kumar told mediapersons after launching Unified Payment Acceptance Solution MOPAD.

Using the