SBI targets Rs 1 lakh crore digital transactions in FY18
1. SBI aims to reach 5.2 lakh Acceptance Touch Points which includes four lakh Digital PoS and a collective transaction of Rs 1 lakh crore in the current fiscal
2. It has launched various online and offline campaigns and collaboration to promote digital transactions
With an aim to achieve the government's Digital India vision, State Bank of India (SBI) on Friday said it targets to reach 5.2 lakh Acceptance Touch Points and collectively to do Rs 1 lakh crore transaction in the fiscal year 2017-18 (FY18).
SBI said in a statement that it has implemented various initiatives as part of Digital India and Digi Dhan Mela campaign launched by the government, which includes adoption of 110 villages across to develop digital eco system and targeting deployment of 25,000 terminals at 12,500 villages under a NABARD scheme.
Moreover, the bank has launched various online and offline campaigns and collaboration to promote digital transactions.
"In FY 2017-18 bank’s ambition is to reach 5.2 lakh Acceptance Touch Points which includes four lakh Digital PoS (Bharat QR and Aadhaar Pay) and collectively will receive Rs 1 lakh crore of transaction value," SBI said.
"With the Digital India initiative pursued collectively by the Government of India, banks and technology companies, India is transforming into a digitally empowered society and SBI is playing a pivotal role in the process of digitalisation," SBI chairman Arundhati Bhattacharya said.
The bank has recently started Aadhaar Pay - an app for merchants - which will enable them to receive payments through biometric authentication of the customer, provided the customers' bank accounts are linked to their Aadhaar number.
"UPI and Aadhar pay are two very innovative platforms which will lead to efficiency in costs and provide convenience to customers," SBI managing director Rajnish Kumar, said in a statement.