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YONO SBI stops the electronic A / C opening via Aadhaar, the bank transfers RBI to other options

twitter-logo PTI Last updated: November 18, 2018 14:54 IST

(Eds: improves the headline, insertion, adds YONO suspends only opening documents without paper) New Delhi, November 18 (PTI) As the SBI platform for a comprehensive platform "YONO" to access online banking services has suspended the opening of an electronic account by Aadhaar in accordance with ordered by the Supreme Court, the bank sought to clarify the RBI's alternative solution, said the high official. The ruling of the Supreme Court of September 26 stated that it is not mandatory to combine the 12-digit Aadhaar unique identification number to open or use banking services, among others. Since then, the State Bank of India (SBI) temporarily blocked the possibility of opening a bank account without paper by "You Only Need One" (YONO), customers must visit the branch to open an account. "From now on, e-KYC is not allowed, so we want clarification from RBI, we discussed it with the regulator, so after the explanation, we can start (by doing an e-KYC through Aadhaar)," the official said PTI. The "YONO" digital platform, launched in November 2017, offers all financial services and products related to lifestyle in the bank, including opening an account without even having to visit a bank branch. Customers can also, among other things, transfer funds, use a previously approved personal loan without paperwork and obtain a loan in the current account from fixed deposits. SBI has set an ambitious customer base for 250 million through the YONO platform in the next two years. By August, over 2.5 million users registered on the bank's YONO platform. Before ordering SC on Aadhaar, a unique identification number has become mandatory for many services, including banking and telephony, and has become a one-stop solution to meet the customer knowledge (KYC) at an affordable price. PTI KPM MKJ MR

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