The number of users for State Bank of India's mobile wallet app - State Bank Buddy - crossed the 10 million mark, India's biggest bank said on microblogging site Twitter. Using the banking behemoth's app - State Bank Buddy customers can send money, view bank statements, recharge mobile phones and set-top boxes, book movie tickets and shop online. Digital payments in the country have soared nearly 23-times since Prime Minister Narendra Modi's decision to ban Rs 500 and Rs 1,000 notes in November last year in a bid to curb black money and switch to a "less-cash economy."For latest news on Business, like us on Facebook and follow us on Twitter.
State Bank of India in a tweet said, "The user base on our State Bank Buddy App has rocketed to 10 million. A million thanks to our customers. SBI is happy to be your buddy."
State Bank Buddy app which is available in 13 different languages can be downloaded from Apple App store for iOS phones and from Google Play store for Android phones. The money in the State Bank Buddy wallet can be added via net banking and debit card.
The government has been pushing hard to digitise payments and in this effort Prime Minister Narendra Modi launched the latest version of BHIM e-wallet app on Friday. Promoting the latest version BHIM 1.3, on the 126th birth anniversary of Dr Bhimrao R. Ambedkar, PM Modi said that the BHIM-Aadhaar platform would play the same role of empowering the common Indian as the Constitution of India, framed by Dr Ambedkar.
Meanwhile, State Bank of India recently unveiled a new brand identity after its merger with six other banks. Five associate banks - State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT) - and Bharatiya Mahila Bank are now part of SBI. With the merger effective March 31, 2017, SBI said it will join the league of top 50 banks globally in terms of assets.