SBI launches mobile wallet app 'Buddy'

India’s largest banking entity State Bank of India (SBI) launched a Mobile wallet application dubbed as ‘SBI Buddy’.
It was launched by Union Finance Minister Arun Jaitley at a function held at State Bank Bhavan, Nariman Point in Mumbai. SBI’s first female Chairperson Arundhati Bhattacharya was also present on the occasion.

Key features of SBI Buddy

• Aims at providing convenient and secure digital payment system to its customers.
• It was launched in collaboration with Accenture and Mastercard.
• The application is available in 13 languages with several features including bill payment, all types of ticket bookings for movies, flights, payment and cash transfer among others.
• It also has features like reminders to recharge, bill payments, dues settlement etc.
• At present the app is available only on android based phones and can be downloaded from Google Play Store. SBI soon is going to launch this app on Apple App Store.

SBI Foundation

• State Bank of India also launched SBI Foundation, a subsidiary as an implementing agency for its corporate social responsibility (CSR) activities.
• Union Finance Minister unveiled website and the logo of SBI Foundation on the occasion of launching the SBI Buddy application.
• SBI foundation will encourage, promote and develop causes related to environment, education, children welfare, women empowerment and manage all the CSR activities of the SBI Group.

Month: Current Affairs - August, 2015