India’s largest lender State Bank of India (SBI) has launched a new and enhanced security feature for its YONO and YONO Lite apps, called ‘SIM Binding’, to protect customers from various digital frauds. Under the new SIM Binding feature, the YONO and YONO Lite apps will work only on those devices which have SIM of mobile numbers registered with the Bank. The main aim of the new version of the platform is to provide enhanced security to customers and help them with a convenient and safe online banking experience.
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How to avail of the new service?
- SBI customers will have to update their mobile app, to get access to the new version of YONO and YONO Lite with enhanced security features.
- The users will need to complete the one-time registration process on these apps, where the bank will verify the SIM of the registered mobile number with the lender.
- Customers must register themselves with the device which has the SIM of the registered contact number.
Important takeaways for all competitive exams:
- SBI Chairperson: Dinesh Kumar Khara.
- SBI Headquarters: Mumbai.
- SBI Founded: 1 July 1955.