SBI rejects e-Wallet transactions

Hyderabad,January 4: The SBI officials are announced that, they are stopping the all online transfer of funds from customers accounts through e-wallets. All clients of SBI have to recharge through their debit and credit cards.

RBI demand an explanation about this decision of SBI. Then SBI Chair Person Arundhati Bhattacharya replied that, The only reason behind this decision is hiking of cyber crimes and online frauds during digital transactions. It is limited for only temporary situations. In Future,It will remove this limitation about online transactions",He explained.

However,e-Wallet companies are responded vigorously about the decision of SBI. They alleged that, Already 80 millions people are using SBI's Buddy App,such that, The main purpose of SBI's decision had been taken to increase the no. of users of buddy app",they added.