SBI launches Yono branches in three cities

MUMBAI: State Bank of India (SBI) on Tuesday said it has launched 'Yono' branches in select cities, aimed at driving adoption of digital banking among its customers.

Yono is the lender's digital banking app.

The bank has launched Yono branches in Navi Mumbai, Indore and Gurugram, one in each city, as part of its pilot, a release said.

"We believe the Yono branch will enable and empower customers to adopt digital banking to enjoy all banking services with ease," SBI Chairman Rajnish Kumar said.

Through the self-service zone, customers can deposit cheque into smart cheque deposit kiosks, withdraw and deposit cash, and print passbook 24x7, without depending on branch staff.

The said branches have been launched on the eve of the 65th anniversary of the bank's foundation day. The lender plans to scale up these branches across the country in the next five years.

Yono has crossed 5.1 crore downloads, and has 2.4 crore registered users.