Mumbai: State Bank of India accounted for half of the total number of mobile transactions undertaken in June, while ICICI Bank became the first to surpass the Rs 1,000-crore mark albeit with only a fifth of the registered users as the country's largest lender.
State Bank of India's (SBI) account holders undertook 52,27,782 transactions using their mobile phones involving Rs 546.34 crore in value in June, RBI said in data released Thursday.
An SBI statement said that it has 1.15 crore registered mobile users, which account for 4.5 percent of the accounts, helping it account for over half of the total 1,07,28,715 transactions involving a value of Rs 3,985 crore during June, the RBI said.
The country's largest private sector lender ICICI Bank became the first bank to cross the transaction value of over Rs 1,000-crore using mobile phones and claimed that it could achieve it with only a fifth of users as the SBI.
Sources said that the bank has 20 lakh "active customers" using the mobile channel for transactions.
ICICI Bank account holders did 19,51,469 mobile transactions involving Rs 1,021.19 crore in value in June, the Reserve Bank of India (RBI) data said.
SBI said that it plans to grow its registered mobile user base to around 12 percent of the total retail base in the next two years and push it up further to 35 percent in around five years.
"ICICI Bank has crossed the Rs 1,000-crore mark in monthly mobile banking transactions, which is the first by any bank in India," a statement from ICICI Bank said.
The two leading banks' futuristic plans mobile banking comes after days of RBI Deputy Governor H R Khan chiding lenders for being lax about cost-effective ways of transacting.
"If you see the data, it is growing, but not the way it should be. We still do not have proper usage. There is an active need for collaboration between the bank and telecom companies," Khan had said at an industry summit two days ago.
In June, the third largest private sector lender Axis Bank reported 13.60 lakh mobile transactions with a value of Rs 586.15 crore being transacted, while HDFC Bank, the second largest private sector lender accounted for 3,51,883 transactions involving a value of Rs 795.62 crore, the RBI said.
