The largest lender State Bank has said its tie-ups with various e-commerce players, including Snapdeal and Flipkart, have not yielded the desired results so far and is thus reworking the strategy to increase the volume.
As part of supply chain finance, SBI had tied up with Snapdeal, Flipkart, Amazon and taxi aggregator Ola to offer easy working capital to their vendors.
Last November, the slope opened a digital platform Yono, which provides all financial employments of the slope and its assistants under one app.
The platform allows consumers to ajar a sbi slope record digitally, movement funds, helpfulness of pre-approved personal debt sans any work and get draft facility against deposit.
The slope is also in the process of compounding all the financial employments commodities from SBI and its assistants with the platform.
“The response for Yono is tremendous. So far, the downloads have exceeded 2.5 million and registration have exceeded 1 million. We have added general insurance product also. In few days mutual fund products will also be available,” he said.
Kumar expressed the digital platform is currently supplying commodities to retail consumers and slope is working on supplying akin employments to corporates also.