State Bank of India leads in MeitY Digital Payment Scorecard

Mumbai: Country’s largest lender State Bank of India (SBI) has topped the list of the Ministry of Electronics & Information Technology’s (MeitY) Digital Payment Scorecard for 3 consecutive months. The scorecard tracks Commercial Banks’ performance on various digital parameters. SBI remained the top remitter bank by recording the highest UPI transaction volume of nearly 64 crores having a user base of 13.5 crores.

SBI processed 636 crore transactions through its digital platforms which are 67% of the bank’s total transaction volume. The bank commands almost 25% market share by transaction volume of mobile banking. According to SimilarWeb, SBI’s internet banking service is ranked first in terms of online traffic in the banking credit and lending category and is used by over 8.5 crore customers.