SBI launches SBI Mingle, a social media banking platform

India’s largest lender State Bank of India (SBI) recently had launched SBI Mingle, a social media banking platform for Facebook and Twitter users.
It was launched by SBI Chairman Arundhati Bhattacharya, on the occasion of 61st State Bank Day (observed on 1st July).
Key Facts

• The SBI Mingle will allow SBI’s customers to access various banking services via these social platforms.
• To avail services from this platform, customers will have to register for it through a simple one time registration process using either their social account number or their ATM/Debit Card details.
• Currently, SBI services such as balance enquiry, mini statement, funds transfer within SBI as well as inter-bank and beneficiary management services are available for Facebook.
• On Twitter, customers using hashtags can find out their account balance and view mini statements.

Besides launching SBI Mingle platform SBI Chairman Arundhati Bhattacharya also launched two new digital offerings. They are

• SBI-Flipkart Partnership: SBI has partnered with home-grown ecommerce giant Flipkart to offer its consumers the facility of pre-approved EMI Facility on purchases.
• Under this partnership SBI will provide overdraft facility to its pre-qualified set of customers for transacting on Flipkart for a minimum purchase of 5000 Rupees.
• SBI Digital Villages: This initiative aims to transform villages into cash less eco-system by adopting them.
• In its first stage of the initiative, SBI has adopted 21 villages to be moved on the digital platform. It plans to bring 100 villages under this initiative across the country by 2017.

Month: Current Affairs - July, 2016