Mumbai: State Bank of India (SBI), which is the biggest public bank in the country, just said it's making a big change. The mCASH thing is going away for good after November 30, 2025. So, after that, you won't be able to send money through OnlineSBI or YONO Lite without adding who you're sending it to first. Also, you can't get money through an mCASH link or the app after that date either.
SBI's advice to you
SBI said that mCASH will stop working and told everyone to start using other ways to pay online. They said things like UPI, IMPS, NEFT, and RTGS are good options for sending cash to others. SBI also mentioned that these ways are used a lot and are safe and fast for moving money.
What mCASH used to do
mCASH let you send money just by using someone's phone number or email, so you didn't have to add them as a contact first. The person getting the cash would get a safe link and a passcode to put in, and then they could get the money in any bank account. You did all this through the SBI mCASH app, where you logged in with a PIN. A lot of people liked this because they didn't have to add people as payees over and over again.
What's changing now
Since mCASH is going away, you'll have to use other online payment methods. SBI thinks this will make paying online easier and safer. Things like UPI and IMPS are already super popular and let you send money right away without a lot of trouble.The bank gets that some people who used mCASH a lot won't be happy because they used it to skip adding contacts. But, SBI is sure that the other payment systems can do the job better. SBI made it clear that mCASH won't work at all after November 30, 2025, so they want people to switch to other ways to pay way before then.
