SBI mobile banking | Mobile banking even on general phones

February 1st, 2013| Finance, News.

SBI mobile banking | Mobile banking even on general phones

SBI that has the credit of being the first Government sector bank to start mobile banking has also bagged another record. Deputy Manager of SBI, Mr. A. Krishna Kumar has announced in Kolkatta that they have developed a technology with which banking transactions can be done even on entry level or low end mobile phones. Till now, mobile banking facility for SBI customers is available for only smart phone users.

‘Earlier it was a very difficult to provide mobile banking facility on low end mobile phones. Now we have overcome this problem. We have clearly told our service provider, Spanco telesystems to develop a technology by which it is possible to provide mobile banking service to all customers regardless of the cost of the mobile phone they use’, explains Mr. Krishna Kumar. SBI customers can transfer money by using mobile banking facility. They can even check their balance, get mini statements, request a cheque book and can pay other bills including insurance premium.

It is a known fact that RBI has elevated the per day limit of mobile banking from Rs. 5,000 to Rs. 50,000. In this scenario, SBI has concentrated more on alternative banking ways. Mr. Krishna Kumar is sure of an increase in transactions where presently 25% of the total transactions of SBI are done through mobile banking, internet banking and ATM.

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