Challa Sreenivasulu Setty, Chairman of State Bank of India (SBI), left, with Chief Executive Officer (CEO) and Managing Director (MD) of Tata Consultancy Services (TCS) K. Krithivasan during the launch of ‘YONO 2.0’, a new version of the bank’s app, in Mumbai, Monday, December 15, 2025. | Photo credit: SHASHNK PARADE/PTI
During the launch of a new version of the Yono app, bank chairman CS Setty said that the bank has started an initiative where dedicated executives or floor managers help customers migrate to the digital channel, which is also very convenient for them.
“We already have 3,500 executives in branches to serve the customers and will take that number to 10,000 by March 31, 2026,” Setty told reporters here.
Setty said a subsidiary is handling the project and hiring new staff for this purpose, he said.
The bank’s chairman said that with the new version of Yono 2.0, the bank aims to take on major payment giants such as Google Pay and PhonePe, adding that the version that works on mobile, tablets and also desktops can also be used by customers of other banks.
Currently, 9.60 crore of SBI’s over 50 crore customers use Yono, and the bank is targeting to have 20 crore customers on the platform, Setty said.
The revamped app will allow SBI to acquire a customer at a tenth of the cost, Setty said, adding that with the new version, it aims to do 90 percent of its 70,000 daily account openings with Yono.
All existing Yono users will gradually receive updates and within a certain time everyone will have the new version seamlessly, Setty said.
Setty said there are currently no plans to monetize the Yono franchise.
Published on December 15, 2025
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