SBI to set up 10 lakh YONO Cash Points

Jaipur, August 21 

State Bank of India is planning to establish nearly 10 lakh YONO Cash Points in the country over 18 months, said its chairman Rajnish Kumar today. The platform is secure and will eliminate the requirement of using debit cards, Kumar said.

“A customer can make bill payments and can do digital transactions by using the YONO cash feature. We are considering establishing close to 10 lakh YONO Cash Points in 18 months. Nearly 70,000 Cash Points have already been established,” he said at a press conference here.

The bank has no plans to discontinue debit cards but increased use of the digital platform will reduce the requirement of the debit cards, he said. YONO is a digital banking platform and customers can use it on their smartphones to withdraw cash, make transactions and payments. — PTI