State Bank Of India

State Bank of India (SBI), in partnership with Bharat Sanchar Nigam (BSNL), has unveiled its mobile wallet application ‘State Bank MobiCash’ for feature as well as smartphones. The new wallet services will initially be available in Punjab, Rajasthan, Haryana and Bihar and expanded pan-India by the end of December 2016. MobiCash will allow users to deposit cash through BSNL retail outlets and withdraw funds from their account.

SBI offers a wide range of services in the Personal Banking, Agriculture/Rural, NRI services, SME and Corporate Banking etc. The Bank 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.