homebusiness Newscompanies NewsState Bank of India invites proposals from companies to partner with on YONO 2.0

State Bank of India invites proposals from companies to partner with on YONO 2.0

Last year, Ashwini Kumar Tewari, Managing Director — International Banking, Technology & Subsidiaries, SBI, had told CNBC-TV18 that they had no plan to take YONO public just yet.

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By CNBCTV18.com Jan 19, 2023 2:57:07 PM IST (Published)

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State Bank of India invites proposals from companies to partner with on YONO 2.0
State Bank of India Ltd. has invited proposals from companies to select a partner to supply, build, integrate, operate YONO 2.0 for seven years.

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While the last date to submit the tender fees and relevant documents is January 20, the pre-bid meeting would be held on January 30, where the companies will be able to present their tender documents. The last date to submit pre-bid queries is February 6 and the same would be responded to by February 12.
The last date to submit the bid would be March 30, 2023.
SBI's YONO 2.0 app, would be a digital bank that would offer various services and products under one platform, including mutual funds, credit card, insurance. The YONO 2.0 app would be available to everyone, and not just limited to customers of India's largest lender.
The current SBI YONO app, which was launched in 2019, is only available to SBI account holders, who can avail services such as opening fixed deposits, net banking, viewing transaction history, booking trains, flights, buses, paying medical bills, online shopping and more.
Last year, Ashwini Kumar Tewari, Managing Director — International Banking, Technology & Subsidiaries, SBI, had told CNBC-TV18 that they had no plan to take YONO public just yet. "On YONO, (there are) no (plans of) listing for now. We are working hard on different versions of YONO. So, we could potentially open it up to others as well going forward, but no listing plans as such," he had said.
On another note, the country's largest lender raised Rs. 9,718 crores (Rs. 97 billion) through its second infrastructure bond issuance on Wednesday at a coupon rate of 7.70 percent.
The fund proceeds will be utilised in enhancing long-term resources for funding infrastructure and the affordable housing segment, the bank said in a statement.
The State Bank Of India's shares were trading 0.4 percent lower at Rs 589.15 on the National Stock Exchange (NSE).

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