SBI's Mobile Wallet App 'Buddy' Crosses 10 Million Downloads

The number of users for State Bank of India's mobile wallet app - State Bank Buddy - crossed the 10 million mark, India's biggest bank said on microblogging site Twitter. Using the banking behemoth's app - State Bank Buddy customers can send money, view bank statements, recharge mobile phones and set-top boxes, book movie tickets and shop online. Digital payments in the country have soared nearly 23-times since Prime Minister Narendra Modi's decision to ban Rs 500 and Rs 1,000 notes in November last year in a bid to curb black money and switch to a "less-cash economy."

State Bank of India in a tweet said, "The user base on our State Bank Buddy App has rocketed to 10 million. A million thanks to our customers. SBI is happy to be your buddy."