The State Bank of India has now introduced some new rules, especially for the safety of the customers.
As per the biggest lender, customers can log in to SBI’s YONO app only from the mobile numbers that they have registered with the bank.
If your number is not registered, you will not be able to use the YONO App anymore.
SBI Introduces New Rule For YONO App
Apparently, this step has been taken in order to reduce the online banking fraud cases in India.
The SBI has announced this new development through its Twitter handle. Additionally, the bank has stated that in case of new registrations, customers should use the same phone in which their mobile number is registered with the bank.
SBI will no longer allow YONO account holders to carry out any transactions when they try to log in with any number other than the one that is registered.
The new upgrade has been introduced in the YONO app, with the intention to curb online fraud. With this new development, customers will be able to get a secure banking experience and also not be a victim of online scams.
Users Cant Login To YONO Through Any Phone?
Under this rule, you will also not be allowed to log in to the YONO app through any phone, which was possible earlier. Now, the facility of YONO can be accessed from the same mobile in which your registered number will be.
The bank is reportedly increasing the security features for the customers.
At a banking event organized by the industry body IMC, SBI chairman Dinesh Khara informed upcoming plans on expanding the bank’s digital platform Yono to international markets and working on launching a newer version for it.
SBI is working towards launching the app in international markets, like Singapore, Bahrain, the USA, and South Africa by March 2022.
The bank has started leveraging analytics for profiling the customers and to reach out to customers. It is also leveraging analytics for management and mitigation of risks.
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