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SBI sees 41% jump in mobile banking transactions

In 2014, 12.5 mn customers transacted on mobile compared to 8.57 mn customers in 2013

BS Reporter  |  Mumbai 

Arundhati Bhattacharya

The State Bank of India (SBI), country's largest commercial bank, has continued to lead in mobile banking space according to Reserve Bank of India (RBI) data.

The bank has seen around 46% growth in the CY 2014 compared to CY13. In 2014, 12.5 million customers transacted on mobile compared to 8.57 million customers in 2013.

As a part of financial inclusion programme, SBI created more awareness amongst its huge retail and regional customer base. As a result in CY 2014 SBI registered about 70% of the customer from non-Metros.

The average transaction per customer was Rs 7,052 which also emphasizes that more and more retail customers are using the mobile banking facility.

Arundhati Bhattacharya, Chairman, State Bank of India said, "India has just witnessed the launch of message-banking. We are confident that once this is understood by people, there will be an explosion of banking activities in the mobile space. "Mobile banking will also play a large part in the role of the yet-to-be-launched payment with which SBI plans to have tie-ups."

First Published: Tue, January 06 2015. 18:42 IST