Chandigarh - 04.12.2019 : Sustainability is one of the core Values of State Bank of India and at SBI, we are taking multiple steps towards Sustainability like tree plantation in a big way across the Circle having more than 1900 branches, stoppage of use of Plastic Water Bottles in its offices, stoppage of Single-Use plastic in its administrative offices, gradually replacing plastic folders with paper folders, using fabric based banners instead of flex etc. Stating this here in its Local Head Office, Sh. Rana Ashutosh Kumar Singh, Chief General Manager, Chandigarh Circle mentioned of another big step taken by the Bank towards Sustainability i.e. the launch of its Unique Mobile app - YONO (You Only Need One) two years ago.

Celebrating the 2nd Anniversary of the YONO app, Sh. Singh shared that the use of YONO obviates the need of use of paper which contributes substantially towards Sustainability. He further added that YONO made a record of over 156 million downloads within 2 years of its launch and we are proud that 88% of Bank’s transactions are done through digital channels.

YONO, true to its name, provides one single digital platform for all banking, shopping and investment requirements of its customers including Mutual Fund, Insurance, Credit Card, payment of bills, ticket booking, ordering for taxis, food etc. The customers can also avail customer segment specific products of YONO like YONO Car, YONO PAPL (Pre-Approved Personal Loan), YONO Krishi etc.

While the customers who apply for Car Loan through YONO get a benefit of 25 basis points on the applicable rate of interest, the customers can know their eligibility pf Pre-Approved Personal Loan (PAPL) on YONO by sending SMS from their registered mobile number to 567676. The eligible customers can avail the PAPL from Rs.2 Lakhs to Rs. 5 Lakhs in 4 clicks and the loan amount is credited instantly to the customer’s savings account. The Agriculture segment customers can avail Gold Loan on YONO which also has an advisory hub providing information on weather and markets.

Sh. Singh added that the Bank is also in the process of launching YONO Business shortly. It is a one stop integrated banking solution which can be accessed across devices allowing the businesses to plan, manage, grow and address their financial needs. It is a customer facing platform for both large corporates and the SMEs. YONO Business will provide one single platform for Corporate Internet Banking (CINB), Cash Management Product (CMP), E-Forex, E-Trade and Supply Chain Finance.

Summing up, Sh. Singh talked about YONO Cash which allows withdrawal of Cash from ATM without using ATM Card thus providing a very effective tool for fraud prevention by eradicating the chances of ATM cloning / skimming / shoulder surfing etc. In view of ease of use, convenience and safety, there are 140 thousand plus Touch Points of YONO Cash within a few months of its launch. Sh. Singh impressed upon everyone to use YONO and YONO Cash since the future of banking in India is going to be digital banking.