Daily Current Affairs Quiz 2019<\/a><\/strong><\/p>\n\n\n\nA fifth of the population relies on the debit card service\nof this largest lender. Inspite of this huge reliance, SBI plans to promote\nmore digital payment solutions and eliminate the plastic cards. The chairman of\nthe bank Rajnish Kumar noted that there are around 90 crore debit cards in the\ncountry as against the 3 crore credit cards. He added that in order to achieve\na debit card-less country, there are digital solutions like the bank\u2019s own\n\u2018Yono\u2019 platform. With the aid of the Yono platform, customers can withdraw cash\nat the automated teller machines or pay for purchases at a merchant\nestablishment without having a card at all, noted Rajnish Kumar.<\/p>\n\n\n\n
Notably, the SBI has already set up 68,000 \u2018Yono cashpoints\u2019\nacross the country and will soon set up over 1 million within the next 18\nmonths. With the massive scaling up of the Yono service, the need to own a\ndebit card will become reduce, noted the bank chairman. Further, the necessity\nof a credit card in the pocket will come as a \u201cstand-by\u201d as the Yono platform\nis capable of providing credit for buying certain merchandise.<\/p>\n\n\n\n
Pointing out that virtual coupons are the future, Kumar said\nthat the will be less usage of plastic cards in the next five years. Currently,\nthere is the QR code which is a very inexpensive way of ensuring payments.<\/p>\n\n\n\n
About YONO <\/h4>\n\n\n\n
YONO is an integrated digital banking platform offered by\nState Bank of India to enable users to access a variety of financial and other\nservices such as taxi bookings, online shopping, or medical bill payments. YONO\nis offered as a smartphone app for both Android and iOS. <\/p>\n\n\n\n
Initial release:<\/strong>\n24 November 2017<\/p>\n\n\n\nDeveloped by:<\/strong>\nState Bank of India<\/p>\n\n\n\nAbout State Bank of India<\/h4>\n\n\n\n
The State Bank of India is an Indian multinational, public\nsector banking and financial services statutory body. It is a government\ncorporation statutory body headquartered in Mumbai, Maharashtra. SBI is ranked\nas 216th in the Fortune Global 500 list of the world’s biggest corporations of\n2018. <\/p>\n\n\n\n
Chairperson:<\/strong>\nRajnish Kumar<\/p>\n\n\n\nHeadquarters:<\/strong>\nMumbai<\/p>\n","protected":false},"excerpt":{"rendered":"The State Bank of India is planning to end the ubiquitous usage of debit cards from the banking system. \u201cIt is our wish to eliminate the debit cards, and am sure we can eliminate them,\u201d said SBI chairman Rajnish Kumar while at the annual FIBAC, a banking conclave organised by the Indian Banks\u2019 Association (IBA) […]<\/p>\n","protected":false},"author":13,"featured_media":5023,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[144],"class_list":["post-5022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles","tag-state-bank-of-india"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/5022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=5022"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/5022\/revisions"}],"predecessor-version":[{"id":5024,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/5022\/revisions\/5024"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/5023"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=5022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=5022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=5022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}