If you are a customer of State Bank of India, you have often heard the word YONO. And if you are dealing with money transactions online such as transferring money from one account to another, sending money to someone, paying bills, then you definitely need SBI YONO. But, what is YONO? This may have been questioned by many. So today let us briefly know about SBI YONO.
The full form of YONO is You Only Need One. It is an integrated digital banking platform presented by State Bank of India (SBI). It assist users to access a variety of financial and other services such as flight, train, bus and taxi bookings, online shopping, or medical bill payments. YONO is offered as a smartphone app for both Android and iOS and it is easily available on the Google play store if you are Android user.
It was launched on 24th November 2017 by Late Mr. Arun Jaitley when he was Finance Minister of India. YONO deals with services from over 60 e-commerce companies including online shopping, travel planning, taxi booking, and online education and offline retail. YONO also offers conventional mobile banking facilities such as bank account opening, fund transfers, cashless bill payments, and loans. The smartphone app can be used to make ATM withdrawals.
In order to use SBI YONO, you must have an account with the State Bank of India. To use YONO, you have to download it from the Play Store. After this, a 6 digit MPIN is generated through OTP using registered mobile number. And for the transaction, we have to create a profile password again via OTP.
I hope you find this information useful. Thank you.
Nitin Patil
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