Coronavirus Home Banking Alert! SBI sends message – Check transactions you can do without visiting bank

By: |
Updated: March 16, 2020 2:19 PM

The SBI Yono Lite app users have been sent a message asking the account holders to use the SBI digital channels for performing banking services transactions.

 SBI Yono Lite app, Coronavirus, mobile banking, phone, banking, home banking, Online transactions,M-Passbook or mobile passbook is an electronic passbook, which can be used for storing and recording the account transactions.

In times like these, when the government and almost all private and public sector institutions including banks are cautioning individuals to take precautions against Coronavirus, the State Bank of India (SBI) has also come out with a precautionary message for SBI account holders. The SBI Yono Lite app users have been sent a message asking the account holders to use the SBI digital channels for performing banking services transactions.

On March 16th, SBI has sent the message stating – “ To counter the spread of Co-Vid 19 (Coronavirus), use bank’s digital channels for performing banking transactions.”

As an account holder in SBI if you have not downloaded the SBI Yono Lite app, its time to download it now. Using it will save you time as making a visit to the bank branch can be avoided. M-Passbook or mobile passbook is an electronic passbook, which can be used for storing and recording the account transactions. One can sync or update the transactions manually into one’s m-Passbook at any time of the day. Once updated, you would be able to see your transactions in your m-passbook, stored in your device.

In addition, by accessing the Internet banking portal of the banks, one can operate bank account from anywhere anytime, removing the restrictions imposed by geography and time. Among several other things, one can do funds transfer between own accounts, make third party transfers to accounts maintained at any branch of the bank, do inter Bank Transfers to accounts with other Banks and give online standing instructions for periodical transfer also.

From January 1, 2020, the Reserve Bank of India (RBI) had asked all banks to not levy any charges for online fund transfers through NEFT system. This had come as a big relief for the savings bank account holders as there will not be any charge for savings bank account holders and they will be able to transfer funds via NEFT system online with net banking or mobile banking app of banks without any cost.

Earlier RBI had also asked all the banks to put certain essential things in place for the benefit of the senor citizens and also for the differently-abled including visually impaired persons. Also as a senior citizen, one may submit the KYC documents and Life Certificate to the bank sitting at home. The bank may charge for the service, depending on their Board approved policy, however, banks have also been asked to provide certain other facilities to senior citizens free of charge.

Phone Banking is another mode for the account holders to execute many of the banking transactional services through Contact Centre over phone. However, registration of Mobile number in the bank account is one of the basic pre-requisite to avail Phone Banking in all banks. In addition, you may require the account number, debit card number or the PIN to use phone banking of the banks.

While there are several modes of approaching the banks available without visiting the branch, it is better to make use of them. In the digital world, almost every financial transaction is feasible using the online medium.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1YOUR QUERIES: MUTUAL FUND
2Mumbai Residential Market: 40% of sales in Rs 50 lakh to Rs 1 crore price segment in Q2 2021
3Govt paid Rs 164.5 cr to Infosys for new I-T portal: Chaudhary