Wednesday, August 19, 2015

SBI Launched State Bank ‘Buddy’ – A Mobile Wallet

Launched in 13 Languages on the Google Play Store
Mumbai, August 18, 2015: Hon’ble Union Finance Minister Shri Arun Jaitley, today launched the e-wallet of State Bank of India, branded as “State Bank Buddy” in the presence of Shri Jayant Sinha, Minister of State (Finance), and Dr. Hasmukh Adhia, Secretary Department of Financial Services, and, Smt. Arundhati Bhattacharya, Chairman of State Bank of India.
Speaking on the occasion Shri Jaitley said that the SBI’s size of operation, geographical reach and reach among different segments of India could fascinate anyone. He said that in spite of the constraints faced by public sector over private sector banks, SBI remains the market leader in the social and economic programmes of the state. He cited the examples of Jan Dhan Yojna and Social Security Insurance schemes, wherein SBI performed the commendable job and led others way ahead.
Mr Jaitley further added SBI has always been instrumental in CSR activities. He especially appreciated SBI for throwing its weight behind the small men and said, “it is the marginal men who make the impact”.  He commended the efforts of SBI in the digitizing India and visualized the situation where very soon the brick and mortar branches, cheque-books, passbook printing etc will become redundant. This would make transactions cashless, make expenditure and accounting of money easier, thus bringing more and more money in the official net. He said that State Bank Buddy was not specific only for the tech-savvy people, but being in 13 different languages, it would cater to all kinds of users. He further said that with State Bank Buddy, the face of consumer spending in India is going to change.
The Minister of State (Finance), Shri Jayant Sinha while addressing the audience added that SBI is at the centre of the entire financial system, being a banker to every Indian. He further commended SBI for adopting the best practices of CSR activities by setting a separate channel through SBI Foundation.
Ms. Arundhati Bhattacharya, Chairman of State Bank of India, in her address said, “This is one more step in our ambition of becoming the provider-of-choice for customers’ everyday needs: Financial and Non-Financial. Mobile is going to be at the centre of this transformation and State Bank Buddy will help us strengthen our proposition through this medium”. Echoing the Chairman’s thoughts, Mr. B. Sriram, MD & GE, National Banking Group said that “State Bank Buddy will help consumers in secure and convenient digital payments. We are highly excited about our latest digital offering and will continue adding more features and support for more Mobile Platforms including Feature Phones”.
The State Bank Buddy, the mobile wallet application of State Bank Group has been launched in collaboration with Accenture and MasterCard.
The Wallet which has been launched in English, Hindi and 11 other languages has several features like Send money to registered and new users, Ask money and Send reminders to settle dues, transfer additional cash into an account of your choice free of cost, Recharge and Pay Utility Bills instantly, Book for movie tickets, flights and hotel and shop for merchandise.


  1. This is good to see that banks are also joining the trend of mobile wallets. But I always suggest and use Freecharge wallet for really quick service and easy transaction. Thanks.

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