Owing to the same, SBI has said via a Tweet that “Always go for safe and secure digital transactions. Activate OTP notifications for your registered email address right away!."
How to activate SBI email OTP?
Any internet banking user can use the service for generating email OTP for internet banking-related transactions/activities. To activate the same, the below steps can be taken into account.
1. Visit retail.onlinesbi.sbi and click on continue to login into your net banking account by entering your User ID details and password.
2. Now go to the ‘Profile’ section and navigate to the ‘High Security’ options.
3. Now head on to the OTP over SMS and Email.
4. Confirm the application and you will get a successful message on your registered email address.
When conducting a transaction in the Yono Lite SBI application or SBI Internet Banking, SBI users can generate an OTP. Customers of SBI can also generate OTPs using the "State Bank Secure OTP App," which is made available by the bank for Internet Banking (INB) transactions made through Onlinesbi and Yono Lite. The application will take the place of the requirement for net banking transactions to get the OTP through SMS. Once it has been registered, the application can generate OTP through the application. The apps can be found in the Android and iOS app stores. SBI has mentioned on its website that “Once you have registered the SBI Secure OTP application, all transactions that require OTP done through Yono Lite SBI version 4.2.0 and above will prompt for online mode of OTP to be chosen. You can use your SBI Secure OTP for generation of the OTP for such transactions. Please note that if you are using an older version of Yono Lite SBI it is recommended that you update the same by visiting the application market place. You will no longer receive OTP through SMS for the transaction done through Yono Lite SBI."
A user can generate the OTP on the application by selecting the "Online OTP" option on the internet banking screen, and then choosing the "Get Online OTP" option in the Secure OTP App. In order to use this option, the customer must have mobile internet access. Once the OTP is entered on the net banking screen, the transaction will be approved.
Against the rising phishing attacks across the nation, SBI has mentioned as a safety measure for its customers that “State Bank or any of its representative never sends you email/SMS or calls you over phone to get your personal information,password or one time SMS (high security) password. Any such e-mail/SMS or phone call is an attempt to fraudulently withdraw money from your account through Internet Banking. Never respond to such email/SMS or phone call. Please report immediately on report.phishing@sbi.co.in if you receive any such email/SMS or Phone call. Please lock your user access immediately, if you have accidentally revealed your credentials."