NEWS & ADVICE : SAVINGS ACCOUNTS
SBT rolls mobile banking facility
By Joseph Samson
Jul 28, 2009
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State Bank of Travancore (SBT), one of the associate arms of State Bank of India, has rolled out mobile banking service for its customers.

The facility was rolled out by G Padmananbhan, Chief General Manager, Department of Payments and Settlements, Reserve Bank of India, Mumbai, at inaugurating function held at the Medical College branch, Mumbai. 

The parent bank, SBI was the first public sector bank to launch mobile banking facility for the customers of the bank, back in 2008.

The facility will enable the account holders of the bank to view account balances, make enquiries, transfer funds (within prescribed limits), amongst others.

The bank also plans to add other features like M-commerce and mobile top-up to the mobile banking facility. The bank is already providing SMS alert facility for customers based in Gulf Countries.

M-commerce and mobile top-up are some other features that will be soon added to SBT's mobile banking service, the release added. SBT's mobile banking service was launched by Mr G. Padmanabhan, Chi ef General Manager, Department of Payments and Settlement Systems, Reserve Bank of India.

The bank provides a special facility, ‘State Bank Group Transfer' for its online banking customers. The facility enables the customer of the bank to transfer funds among branches of SBI group.

Established in 1945, as Travancore Bank Ltd was sponsored by erstwhile Princely State of Travancore. The bank was associated with State Bank of India under a special statute of the Indian Parliament, SBI subsidiary Banks Act 1959.

The bank has set a business target of Rs. 1 lakh crore for the current fiscal year. The bank has posted a net profit of Rs 179.58 crore for the first quarter of 2009-10, which indicates a growth of 337% over the previous fiscal.

The benchmark prime lending rate (BPLR) of the bank is currently pegged at 12.25 % p.a.


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