As part of modernization, SBI now has added another 7 digital products to their customers: SBI Digital Village, SBI Mingle, State Bank Buddy, State Bank Scribe, SBI Digi Voucher, SBI Video Statement and SBI Smart watch. With these additions, SBI becomes the "leader of digital products", they claimed. All these SBI Digital products are available for both rural and urban customers in India.
1. What is SBI Digital Village?
SBI Digital Village is a radical initiative by SBI to create a cashless ecosystem in each village and provide access to Government supported digital initiatives in education, health, social security and agri-schemes, subsidies and benefits. Initially Digital Village is being implemented in the select 21 villages across the nation. Further SBI to establish 100 villages under this scheme in various States across the country by 2017.
Through Digital Village, bank can connect people by providing Green channel banking, ATM Cards, Net banking, Mobile banking, Wallet banking, Self-service pass book printing machines, Cash Deposit Machines, POS and Micro ATM at the village locations. It is considered to be the part of Corporate Social Responsibility (CSR) undertakings aiming to improve the standard of people particularly in villages.
2. What is SBI Mingle?
State Bank Mingle is the social banking application of SBI which enables you to perform basic banking activities through SBI official Facebook page. To get started, users need to access SBI Mingle from the Official SBI Facebook Page. Once the access to the page is established, users need to register and then Sign in, in that order.
SBI Mingle gives convenience of banking on Facebook and Twitter through an APP-based interface. Customers can do all transactions anytime, anywhere just by logging in to their social media account.
Security Aspects of SBI Mingle
Social banking channel of SBI is protected by advanced security features, both physical and logical. SBI has considered various risks inherent in transacting over a public network such as the Internet, and has deployed appropriate security measures to protect customers. Firewalls allow only valid web traffic to reach our server. Proven 256-bit Secure Socket Layer (SSL) encryption technology is deployed to ensure that the information exchanged between your computer and dedicated URL over the Internet is secure and cannot be intruded upon. 'VeriSign' certifies that information exchanged during a valid session is protected during its transmission over the Internet. Additionally, the bank has installed mechanisms such as Intrusion Detection Systems.
Control Measures of SBI Mingle
SBI has set up the following operational and control measures for SBI Mingle customers:
- Access to Social banking is provided only on registration.
- The User ID and password generation is conducted in a secure environment and its distribution is automated.
- User ID and Password are generated through OTP, subject to validation.
- Customer can fix the limits on the monetary value of transactions, which they desire to carry out over this service. The customer alone can modify this.
- For all transactions, second factor of authorization, such as a One Time Password, is required.
3. What is State Bank Buddy?
State Bank Buddy is a mobile wallet application that allows to send or ask money from any of your contacts even if they do not have an SBI account. SBI Buddy is the best in market-wallet with a unique blend of payment and banking service. State Bank Buddy has comprehensive collaborations with merchant partners for unparalleled shopping and payment experience.
Use State Bank Buddy and have the freedom to send money to Anyone, pay bills, recharge mobile/ DTH, book movie/ flight/bus tickets 24x7 on the move. Anytime Anywhere!!!
Features of State Bank Buddy
- Load money into your wallet
- Transfer money with your contacts on phonebook or Facebook
- Recharge your mobile/DTH and pay bills
- Shop online and book movies, flights and hotels
- Transfer money instantly to your bank account
SBI Buddy Service Charges
Service charges for fund transfer through Mobile Wallet SBI Buddy to Bank Account: 3% + Service Tax on transfer from Buddy to Bank Account using IMPS (combination of mobile number and MMID or Account Number and IFSC).
Transaction limits on Wallet With Nil KYC
- Maximum balance at any point of time: 10,000/-
- Top up through any channel per transaction: 10,000/-
- Total reload in a month: 10,000/-
- Total transactions (merchant transactions and fund transfers) Daily limit: 15,000/-
- Total transactions (merchant transactions and fund transfers) Monthly limit: 20,000/-
- Fund transfer (Transfer to Account) Per transaction limit: 2,000/-
- Fund transfer (Transfer to Account) Daily limit: 2,000/-
- Fund transfer (Transfer to Account) Monthly limit: 20,000/-
- Cash out at ATM per transaction: Not allowed
Transaction limits on Wallet With Full KYC
- Maximum balance at any point of time: 50,000/-
- Top up through any channel per transaction: 10,000/-
- Total reload in a month: 50,000/-
- Total transactions (merchant transactions and fund transfers) Daily limit: 50,000/-
- Total transactions (merchant transactions and fund transfers) Monthly limit: 1,00,000/-
- Fund transfer (Transfer to Account) Per transaction limit: 5,000/-
- Fund transfer (Transfer to Account) Daily limit: 5,000/-
- Fund transfer (Transfer to Account) Monthly limit: 25,000/-
- Cash out at ATM per transaction: Presently not available
4. What is State Bank Scribe?
SBI Scribe is a unique, first of its kind service. Just fill up the account opening form on the digital board at the bank and open your account in a jiffy. Walk-in with your KYC documents, walk-out with an account number.
5. What is SBI Digi Voucher?
SBI Digi Voucher is a green initiative of SBI that gives you online access to various challans, transactions slips and forms through an APP. It saves valuable time by allowing you to pre-complete transaction forms online to get direct access to the teller counter.
6. What is SBI Video Statement?
SBI Video Statement is the initiative to view your account statement with spend analysis and dashboards. It comes with a friendly audio narration for the visually challenged customers.
7. What is SBI Smart watch?
SBI Smart Watch permit banking through your State Bank Smart Watch. A unique banking experience that is in tune with the technology of the future.