State Bank Of India

State Bank of India (SBI), in a bid to provide add-on features to all bank and non-bank customers has unveiled ‘MobiCash Easy’, a mobile wallet prepaid service. The bank has introduced it on a pilot basis in Mumbai and Delhi. ‘MobiCash Easy’ allows customer to transfer money to any bank account or to any wallet issued by SBI, pay bills, recharge mobiles, and pay for digital TV and broadband connections.

Besides, the customers can also check their balance and the last five transactions they conducted through their mobile wallet. The customers can register themselves for the service at any of the Oxigen retail outlet and the product does not require any Know-Your-Customer (KYC) compliance.

On consolidated basis, the bank has reported 31.84% rise in its net profit at Rs 4575.31 crore for the quarter as compared to Rs 3470.43 crore for the same quarter in the previous year. Total income of the bank has increased by 21.03% at Rs 49917.47 crore for quarter under review as compared to Rs 41244.65 crore for the quarter ended September 30, 2011.