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Yono Lite is a mobile banking application from the State Bank of India. [ 7 ] [ 8 ] Earlier, it was available as "SBI Anywhere Personal" but it was rebranded as "Yono Lite" in 2018, after the introduction of YONO app. [ 9 ] In 2021, Yono Lite saw several updates to protect its users from digital frauds.
Transactions through mobile banking depend on the features of the mobile banking app provided and typically includes obtaining account balances and lists of latest transactions, electronic bill payments, remote check deposits, P2P payments, and funds transfers between a customer's or another's accounts. [1]
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra.It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list. [11]
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Launched on 30 December 2016, [1] it is intended to facilitate e-payments directly through banks and encourage cashless transactions. [ 2 ] [ 3 ] The application supports all Indian banks which use UPI, which is built over the Immediate Payment Service (IMPS) infrastructure and allows the user to instantly transfer money between 170 member ...
Switching to an online-only bank can matter when it comes to the interest you earn and the fees you pay. Here's how digital banks differ from brick-and-mortar banks.
This is a 7-digit numeric code. To initiate the transaction, the sender in his mobile banking application need to enter the registered mobile number of the receiver, MMID of the receiver and amount to be transferred. Upon successful transaction, the money gets credited in the account of the receiver instantly.
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