Mobile banking may become most preferred mode: SBI chairman

State Bank of India (SBI) chairman Rajnish Kumar expects mobile banking to be the most preferred mode in coming days, and said those who do not invest in technology will not be able to survive.

Speaking at the Global Fintech Fest, he said out of 100 transactions, only 9 are happening in branches at present. “The transactions at automated teller machines (ATMs) have come down to 30-32%, from 55% at the time of demonetization,” he said. Similarly, the digital and mobile banking transactions have gone up to 55% now, from 25-30% earlier.