State Bank of India (SBI) ‘s mobile banking app ‘Yono‘ has been shut down. SBI made the announcement on social media. The app said there was a malfunction in the service due to technical faults in the system. So those who are accustomed to the app may be able to use other apps like SBI’s internet banking or Yono Light7.
However, the bank has advised customers not to rely on fake apps until the banking app is repaired. In addition, the bank has also posted a toll-free number on its social networking site for customers to contact customer care. SBI recently upgraded its Internet banking platform. The bank had earlier warned customers that there could be problems with internet banking.
SBI has 49 crore customers on its digital platform. Who make at least 4 lakh transactions daily. Currently, 55 percent of transactions take place on digital platforms. Therefore, transactions in Yono can only be assumed. It already has 2.76 crore Yono subscribers. M005 Error is coming if the customer logs in due to some technical issues in the app. However, before SBI, HDFC suffered the same fate. The RBI has therefore ordered HDFC to suspend new digital services.
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