SBI target to reach 5.2 Lakh Acceptance Touch Points in FY18

The country’s leading lender SBI aims to reach 5.2 lakh acceptance touch points and collectively do Rs 1 lakh crore transactions in 2017-18 to take forward the government’s digital programme.

State Bank of India (SBI) said in a statement today that it has implemented various initiatives as part of Digital India and Digi Dhan Mela campaign launched by the Modi  government. These include adoption of 110 villages to develop digital Eco System, and targeting deployment of 25,000 terminals in 12,500 villages under a NABARD scheme.

“In FY 2017-18, the bank’s ambition is to reach 5.2 lakh acceptance touch points which include 4 lakh Digital PoS (Bharat QR and Aadhaar Pay) and collectively will receive Rs 1 lakh crore of transaction value,” SBI said.

The bank’s Chairman, Arundhati  Bhattacharya, said that with the Digital India initiative pursued collectively by the government, banks and technology companies, “India is transforming into a digitally empowered society and SBI is playing a pivotal role in the process of digitalisation.“

Rajnish Kumar, MD of SBI, said that UPI and Aadhaar pay are two very innovative platforms which will lead to efficiency in costs and provide convenience to customers.

The bank further said that it will continue the digital drive to bring in more innovative products and services for customer convenience.

Online SBI, the bank’s web banking platform, is the fifth most visited financial site globally

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