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Home / Business / India launches 75 digital banking units

India launches 75 digital banking units

Prime Minister Narendra Modi dedicated 75 DBUs in 75 districts on Sunday
Representational image.
Representational image.
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Our Special Correspondent   |   Mumbai   |   Published 17.10.22, 02:30 AM

India on Sunday kicked off digital banking units (DBUs) that will provide digital banking facilities to people in a brick-and-mortar setup.

Prime Minister Narendra Modi dedicated 75 DBUs in 75 districts on Sunday.

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Announced in the 2022-23 Union budget, they will cover all states and Union territories. Around 11 public sector banks, 12 private sector banks and one small finance bank are participating in the endeavour.

They will be outlets that will provide a variety of digital banking facilities to people such as opening savings accounts, balance-check, print passbooks, transfer of funds, investment in fixed deposits, loan applications, stop-payment instructions for cheques issued, applying for credit or debit cards, view statement of account, pay taxes, pay bills, make nominations among others.

It will deliver these products in a self-service as well as assisted modes.



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