SBI targets `1 lakh cr of transactions

Country's largest lender SBI on Friday said that it aims to reach 5.2 lakh Acceptance Touch Points and collectively do Rs 1 lakh crore transaction in 2017-18 to take forward government's digital agenda.

The State Bank of India (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. These, include adoption of 110 villages to develop digital eco system, and targeting deployment of 25,000 terminals at 12,500 villages under a NABARD scheme.

"In FY 2017-18, the bank's ambition is to reach 5.2 lakh Acceptance Touch Points which include 4 lakh Digital PoS (Bharat QR and Aadhaar Pay) and collectively will receive Rs 1 lakh crore of transaction value," SBI said.

The bank's Chairman Arundhati Bhattacharya said that with the Digital India initiative pursued collectively by the government, banks and technology companies, "India is transforming into a digitally empowered society and SBI is playing a pivotal role in the process of digitalisation". Rajnish Kumar, MD of SBI said that UPI and Aadhaar pay are two very innovative platforms which will lead to efficiency in costs and provide convenience to customers. The bank further said that it will continue the digital drive to bring in more innovative products and services for customer convenience.