STATE BANK OF INDIA (SBI)
The country’s largest lender, State Bank of India (SBI), will allow customers to withdraw funds from its ATM without a debit card and transfer up to Rs 10,000 using a mobile phone.
By launching the instant money transfer (IMT) payment system on its ATMs, the state-owned lender has enabled customers a payment up to Rs 10,000 to be made from any SBI bank account to a person using just his/her mobile number as the identifier. “The recipient of this payment can withdraw funds instantly from an IMT-enabled ATM of SBI without using a debit card,” the bank said.