SBI is blocking its customers from transferring cash into e-wallets through net banking. Last month, SBI had officially blocked its customers from transferring money to their Paytm accounts, but it looks like, the bank has blocked other e-wallets too.
Clarifying the issue, SBI chairman Arundhati Bhattacharya has said that the service has been blocked because of “recent breaches and security reasons”. However, some believe that the move could be to onboard more customers for ‘State Bank Buddy mobile’, its own wallet.
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RBI has asked the bank for an explanation on this.