State Bank of India's (SBI)'s mobile wallet, SBI Buddy, now has a cumulative 10.52 million registered users. In the quarter ended March 2017 (Q4FY17) the bank added 1.9 million registered users. The number of transactions in Q4 stood at 8.75 million and the average number of transactions in a day increased to 0.097 million. For the full financial year, the number of transactions stood at 20.76 million and the average number of transactions in a day stood at 0.057 million. SBI Buddy wallet ran into controversy earlier this month. SBI MD Rajnish Kumar has told multiple media outlets that the bank is allowing cash withdrawals from the wallet via ATM from June (onwards) with a charge of Rs 25 plus Rs 3.5 service tax. SBI had to issue a clarification recently after a widespread outcry when it posted a circular which said that…
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