State Bank Of India

State Bank of India (SBI), the country’s largest public sector lender, has unveiled its United Payment Interface (UPI) app ‘SBI Pay’. SBI Pay is a payment solution not only for SBI account holders, but for customers of all banks who are part of the UPI. The app is available for Android users.

The app will help to send and receive money from their smartphones with a virtual payment address acting as a unique identifier. No additional details are required to use the app other than the virtual payment address.

SBI offers a wide range of services in the Personal Banking, Agriculture/Rural, NRI services, SME and Corporate Banking etc. The Bank has reported 34.56% fall in its net profit at Rs 2,538.32 crore for second quarter ended September 30, 2016 as compared to Rs 3879.07 crore for the same quarter in the previous year.