SBI to launch revamped digital banking platform; To rebrand YONO to ‘ONLY YONO’

  • State Bank of India plans to launch a complete Digital Bank by revamping its digital banking platform ‘YONO’ as ‘ONLY YONO.’.
  • India’s largest bank has set a target of 12-18 months period for implementation of ONLY YONO.
  • This move comes in the wake of Niti Aayog recently publishing a draft discussion paper on licensing of Digital Bank, which may result in a formal guideline by the Reserve Bank of India to establish various types of Digital Banks in our country.