SBI CARD: 50% ONLINE PAYMENTS

The Big money lender bank State of India cards and payment services see over 50 % transaction via online payment such as groceries, medical bills, paying insurance etc., During the time of covid-19 lockdown many of peoples pay the bill through online only. Keeping a watch on the recent coronavirus resurgence in the country across some key locations, SBI Card MD and CEO Rama Mohan Rao Amara said it would be too early to say whether it will have any bearing on peoples purchasing behaviour.

However, through online payments is a trend going to go up further he added. In the 9 months ended December 2021, SBI Card witnessed a flat growth in its income at Rs7,245 core. Rao said the company had already reached to the pre-covid 19 level business by the third quarter and expects to post decent numbers for the overall fiscal. The company is expected to declare the financial results for the fourth quarter of 2020-21 within the end of this month.

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