All You Need To Know About SIM Binding: Latest Secured Banking Feature In SBI’s Yono Lite App

NEW DELHI: Do you hold an account in the State Bank of India (SBI)? Please note that a new feature has been added to the bank’s Yono Lite app for enhanced security.

This new feature will add security and allow customers to securely conduct financial and non-financial transactions.

The State Bank of India (SBI) decided to make online transactions safer for its clients, as online payments have taken centre stage due to the COVID-19 pandemic. To ensure secure online transactions, SBI has implemented SIM binding functionality in its YONO Lite application.

“Now online banking is more secure than ever with SBI! Download the latest YONO Lite app now,” Tweeted by SBI.

SIM binding is “a new technology that only allows one user per device with a registered mobile number to secure online banking,” said SBI. The largest public bank in India will not permit users to make transactions in a different number if they sign up.

What is SIM binding?

It is a new technology that enables only one user to be connected to each device with a registered mobile number. The Yono Lite application version 5.3.48 should be updated and the registered mobile number available on your phone completed a unique registration procedure.

What is Yono Lite app?

Yono Lite is SBI’s smartphone retail internet banking application. A safe and convenient application with many features that help users to manage on the move their finances

Here’s how users can register their mobile numbers on the YONO Lite app

• Android users are required to download and open the SBI Yono Lite app from Play Store and select SIM 1 or SIM 2 registered with SBI for this process. SIM selection is not needed in case of a single SIM.
• A message will appear on your screen asking you to send an SMS from the device for validation of mobile number.
• Hit the ‘Proceed’ button and an SMS containing a unique code will be sent from the device to a pre-defined number
• Once redirected to the registration screen, enter your username and password, and hit the ‘register’ button
• Accept terms and conditions for registration and click on ‘OK’
• You will get an activation code on your registered mobile number. This code will remain valid for 30 minutes
• Enter the code to complete the activation process
• Users can now log in to the YONO Lite application