State Bank Of India

State Bank of India (SBI) has selected Ezetap Mobile Solutions, the Bangalore-based company that is pioneering mobile payments for emerging markets, to launch the largest mobile Point-of-Sale (MPOS) deployment in India to date. The ‘Made In India’ solution will be made available to customers of the bank and its associate banks across the country. SBI plans to deploy 500,000 POS terminals within the next 5 years.

The bank reported 34.20% fall in its net profit at Rs 2234.34 crore for third quarter ended December 31, 2013 as compared to Rs 3396.06 crore for the same quarter in the previous year. However, total income of the bank increased by 14.91% at Rs 39060.76 crore for quarter under review as compared to Rs 33992.11 crore for the quarter ended December 31, 2012.