The success of the revamped digital banking platform will help India’s largest lender reclaim its first-mover advantage and resurrect the prospects of its head.
Nitin Chugh’s moment of reckoning is round the corner.
State Bank of India, the country’s largest lender, is months away from rolling out its refurbished digital banking platform—You Only Need One, commonly referred to as YONO. And Chugh, as deputy managing director of the bank and head of digital banking, is the man behind YONO 2.0.
The success of YONO 2.0 is important for the bank. Especially so given how YONO gave it the first-mover advantage in the digital banking business and how it squandered that with shoddy implementation.
In that respect, not only is YONO 2.0 expected to be …
Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
Editor, Banking
furquan@mailtmc.com
Delhi