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SBI chairman Rajnish Kumar's YONO app target isn't overblown: Experts

Globally, payment solution providers such as Visa, MasterCard and PayPal are displacing traditional banks in the pecking order

Topics
sbi | Rajnish Kumar | State Bank of India YONO

Hamsini Karthik  |  Mumbai 



SBI Chairman Rajnish Kumar, state bank of india
SBI Chairman Rajnish Kumar

A few weeks back when Rajnish Kumar, chairman, State Bank of India (SBI), said the bank’s YONO app must be valued at $40 billion and subsequently proposed that it be hived off into a separate subsidiary like Cards & Payment Services, critics were doubting the efficacy of the strategy. The answer lies in understanding how the banking landscape has changed globally, and how India is progressing.

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First Published: Sun, October 04 2020. 20:54 IST

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