SBI Chairman says digital transactions have gone as high as 67% now

The country’s largest lender State Bank of India has seen a perceptible increase in the number of transactions happening at its multiple digital channels, with the percentage moving from 60 percent in the pre-pandemic period to 67 percent currently, Chairman Dinesh Khara said.

The rise in the number of digital transactions at the bank was largely driven by pick-up in e-commerce during the pandemic-induced lockdown, which restricted movement, he said.

When e-commerce picked up, it was actually the digital channels we are offering that got wider currency and acceptability. That is one of the reasons our digital transactions have gone as high as 67 percent now.

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I think it is a phenomenal number, considering the fact that we are a bank which is serving all kinds of customers – digitally savvy and not digitally savvy, Khara told.