In a major move to accelerate its digital transformation, the State Bank of India (SBI) announced plans to significantly expand its workforce to guide customers online. The country's largest lender will add approximately 6,500 new employees, primarily as floor managers, to facilitate this shift.
Massive Hiring for a Digital Future
Chairman C.S. Setty revealed the plan during the launch of YONO 2.0, the bank's revamped digital banking application, in Mumbai. The initiative is part of a broader strategy to onboard customers onto digital platforms by the deadline of 31 March 2026. Out of the total planned recruitment, the bank has already hired 3,500 personnel, taking the total dedicated team strength to 10,000.
This newly expanded workforce will have a clear mandate: to assist customers, especially first-time users and those still dependent on physical branches, in migrating to digital banking. They will provide hands-on guidance for transactions and help users navigate the new platform seamlessly.
The Cost and Efficiency Driver
For SBI, this digital migration is not just about convenience but also a significant cost-saving measure. The bank estimates that acquiring a customer through digital channels costs nearly one-tenth of the expense involved in onboarding someone via a traditional branch. Digital processes also drastically cut down the time spent on manual paperwork and checks, leading to improved systemic efficiency.
Currently, SBI boasts around 100 million customers using its mobile banking applications. The bank has set an ambitious target to double this number to 200 million over the next two years. The goal is to serve the majority of its retail customers primarily through digital interfaces.
YONO 2.0: A Unified and Simplified Experience
The launch of YONO 2.0 marks a pivotal shift in SBI's digital approach. It is not merely an app update; the bank has completely rewritten its internet banking code. Already, close to 35 million internet banking users have been moved to the new system.
"The focus right now is on simplifying banking and making digital accessible to everyone," stated Chairman Setty, adding that monetization of the platform is not an immediate priority. The vision is to offer a uniform experience whether a customer uses mobile banking, internet banking, or visits a branch.
The new app is designed to be lighter and simpler, functioning effectively even on low-memory phones and in areas with poor internet connectivity. It promises faster and more seamless performance for everyday tasks like balance checks, money transfers, bill payments, and UPI transactions.
SBI has rebuilt its entire UPI payments stack to compete more aggressively with dominant apps like Google Pay and PhonePe. Enhanced security features, including better transaction controls and a new OTP mechanism, aim to reduce delays. The app also introduces simplified KYC processes to avoid repeated verification across different products.
For customers who start a transaction digitally but need assistance, they can complete it at any of SBI's vast network of over 23,000 branches. To onboard non-users, the bank will leverage its branches with digital kiosks and dedicated staff support to help with downloading the app, setting up accounts, and learning to use the services.
