SBI launches upgraded version of YONO app

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Central Bank of India (SBI) has launched its updated digital banking app, ‘YONO for Every Indian’, and its interoperable Cardless Cash Withdrawal (ICCW) facility.

With YONO’s new avatar, customers will now have access to it UPI Features such as scan and pay, contact payments, and money request, among others, according to a statement from India’s largest bank.

SBI said that YONO has more than 6 crore registered users. In fiscal ’23, 64 percent or 78.60 thousand savings accounts were acquired digitally through Yuno.

Interoperable cardless cash withdrawal

With the introduction of this interoperable cardless cash withdrawal facility, SBI customers, as well as other banks, can easily withdraw cash from any bank’s ICCW-enabled ATMs using the ‘UPI QR Cash’ function.

The transaction will be facilitated by a single-use dynamic QR code that is displayed on the ATM screen. Users can easily withdraw cash by using the scan and pay feature available on their UPI app,” according to the statement.

By eliminating the need to enter a PIN or physically handle a debit card, the ICCW facility reduces the risks associated with shoulder surfing or card cloning.

Dinesh Kumar Khara, Chairman, State Bank of India, said, “The YONO app has been revamped, keeping in mind the expectations of our customers for a seamless and enjoyable digital experience. This will fulfill our goal of making the mission of ‘Yono for every Indian’ a reality.”