The State Bank of India (SBI), the country’s largest government bank, has offered an extraordinary service to its clients. SBI users can now enjoy cardless cash withdrawals from any ATM, allowing them to withdraw money without requiring a physical card.
The State Bank of India (SBI) released its completely redesigned digital banking application ‘YONO for Every Indian’. Bank users will be able to use YONO, which stands for “You Only Need One,” to access Unified Payments Interface (UPI) functions such as Scan and Pay, Pay by contacts, and Request money, among others.
YONO has had around 6 million registered users since its start in 2017. In FY23, 78.60 lakh SBI savings accounts were created digitally using YONO.
Newly Launched Features In YONO App
1. Cardless Cash Withdrawal
This new functionality was introduced by SBI on Sunday, along with the debut of interoperable cardless cash withdrawals. With this new feature, SBI users may withdraw cash from any bank’s ATM without using their card. SBI previously exclusively provided cardless withdrawals at its own ATMs.
2. UPI features through SBI’s YONO app
To address changing client expectations, SBI has updated its digital banking app, YONO. The YONO app has been upgraded to allow users from different banks to use it for UPI (Unified Payments Interface) transactions. Individuals from any bank may now use the strong UPI capabilities available through SBI’s YONO app.
The YONO app has been redesigned “YONO for Every Indian,” in keeping with the bank’s objective. The most recent updates attempt to make the app really valuable to everyone. Customers from any bank can now use the YONO app to access all UPI facilities which includes Scan and Pay, Pay by Contacts, and Request Money.
Dinesh Khara, Chairman of State Bank of India, stated the bank’s commitment to offering cutting-edge digital banking products that provide financial independence and comfort to every Indian. The redesign of the YONO app underlines SBI’s commitment to providing customers with a smooth and engaging digital experience.