Avail discounts on purchases at banks' portals

Customers can earn cashback as well as reward points on purchases through banks' platforms

Banks are gradually foraying into e-commerce. State Bank of India (SBI) recently launched its comprehensive digital service platform called YONO, acronym for ‘You Only Need One’. The platform allows customers to shop across 14 categories. It also lets them book cabs, dining, flights and hotels. HDFC Bank was the first to offer this facility through its SmartBuy platform, which offers customers shopping across many categories and also allows them to book flight tickets.

Bankers say they have launched this facilities to offer convenience and a one-stop solution to their customers. Says Manju Agarwal, deputy managing director for corporate strategy and