Arundhati Bhattacharya, chairman, State Bank of India, launched a new product, mCASH, under which SBI customers can transfer money to anyone without knowing their bank account details irrespective of whether the recipient banks with SBI or not. The sender needs to have internet banking access either through browser or State Bank Anywhere app. To transfer the money, sender needs to know recipient’s mobile no or email ID. Recipient will receive the intimation of the transfer request through SMS/Email and has to either download the State Bank mCASH app or visit www.onlinesbi.com to enter his/her bank account details, IFSC code and Email ID/Mobile to receive the transfer-money.
