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| Banking services will go digital: State Bank of India | Writer | Admin | Date | 2016-12-28 15:31 | |
|---|---|---|---|---|---|
Crediting demonetisation for the biggest
push towards digital banking, SBI on Monday said it envisions the entire range
of banking services going digital over the next few years.
"Demonetisation is the biggest push.
The biggest beneficiary is digital banking," State Bank of India MD
Rajnish Kumar said at the two-day Inclusive Finance India Summit here.
"We envision a bank where end-to-end
processes are provided through mobile banking. It will happen in 2-3
years," Kumar said.
The SBI MD also said that in terms of cost
effectiveness nothing could match digital banking.
While it costs the bank Rs 40 per
transaction at a bank branch, Rs 9 at an ATM, at a customer service point Rs
12-13, it was only 50 paise through digital banking, he added.
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