Netbanking transactions have steadily been rising among State Bank of India customers, data procured from the bank via the Right To Information Act by MediaNama has revealed. The number of transactions using Net Banking in November 2012 were 66.47% higher than in November 2011, while the amount transacted was higher by 46.77% for the same two months. With an increase in number of transactions, though, the average amount transacted in November 2012 was 11.83% lower than the amount transacted in November 2011.

Some observations:

– In March 2012, the growth in number of transactions grew by 19.75% month on month, a substantial rise.
– The growth in number of transactions has been on a steady rise except for in September 2012 where it declined by 1.46%

netbanking-SBI2
– As on November 2012, the total number of internet banking transactions stood at 342.08 lakh while the amount transacted was at Rs 182716.43 crore.
– March 2012 saw Rs 225029.81 crore being transacted – a month-on-month growth of 56.43% while October 2011 saw Rs 116080.82 crore being transacted – the lowest in the given time period.
– Note that the number of transactions in March 2012 are not even close to the number of transactions in November 2012, indicating that transactions worth large amounts were made during March 2012 through Net Banking.

1

Data Source: State Bank Of India, via RTI

Share data sources with us: contact nikhil@medianama.com
Advertise: To advertise on Chart of the Day, contact sales@medianama.com. Daily and segment-wise options available.