State Bank of India has been adopting new strategies to improve its business in all the 38 mandals in the district by giving wide publicity about the sanction of personal loans and top-up loans on existing home loans without submission of documents.
The sanction of loans are done on the same day as it has details such as track record of each and every customer, says SBI Regional Manager K. Tejomay Arvind while speaking to The Hindu.
Hassle-free manner
“The bank provides many new services in a hassle-free manner for the YONO app users. Just, they have to download the app in their smartphones to know about their pre-approved personal loans, home loans and top-up loans. They can get many other non-financial services such as updating of Aadhaar number, address, phone number and mail IDs. Otherwise, they have to submit document proofs if they approach their respective branches,” he added.
“Without ATM cards, the customers can withdraw amount with the support of the app. They have to enter the withdrawal amount in their App. They have to enter OTP in the ATM to withdraw money. We have already provided this facility in 54 out of 167 ATMs in the district. This facility prevents many frauds at the ATM centres,” said Mr. Aravind. According to him, SBI General Manager-Amaravati B.V.S.K.T. Bhaskar has held a series of meetings with branch heads for the promotion of digital banking in rural areas too as many customers are good in use of smartphones.
The bank has been sending special teams to all branches to make all 17.7 lakh customers to know the benefits of digital banking. The bank’s aggressive campaign has helped to sanction ₹125 crore home loans as against the target of ₹120 crore in the current financial year 2019-20.
It has also sanctioned ₹150 crore as personal loans with the improvement of digital applications received through Yono app. The bank sanctioned ₹375 crore as loans in the ongoing financial year. It is expected to cross ₹400 crore target by the end of March.
