State Bank of India (SBI) is earning Rs 100 crore every quarter as fees from its customers through 'YONO App'. The special thing is that through this app, SBI sells its products to its customers. A top official of the bank said that by the end of this financial year, Yono's loan book can reach close to Rs 30 thousand crores. This app was launched in the year 2014.
SBI Chairman Dinesh Kumar Khara says that at present 85 percent of the bank's transactions are being done through this Yono app. With the help of this app, customers can also buy mutual funds and life insurance. It has also given personal loans worth Rs 21,000 crore every year in the last two financial years. Along with this, now SBI is also giving pre-approved business loans to its customers through YONO app.
Is earning Rs 100 crores
Actually, State Bank of India Chairman Dinesh Kumar Khara said these things during the fifth Global Fintech Summit held on Tuesday. He said that I am happy to inform that YONO is earning us Rs 100 crore in fees every quarter by selling products from our subsidiaries such as life and general insurance branches, mutual funds and others.
Bank working on Yono 2.0
According to Dinesh Kumar Khara, SBI has given personal loans worth Rs 21,000 crore to people every year in the last two financial years. He said that now we have also increased pre-approved business loans through YONO and are already earning Rs 600 crore per month. Dinesh Kumar Khara said that I am sure that we will distribute at least Rs 29,000-30,000 crore through YONO app by the end of this year. This means that Yono will have a loan book of Rs 30,000 crore. The Chairman also said that the bank is working on the next generation Yono 2.0, so that the bank can provide the best financial facilities to its customers.
No comments:
Post a Comment