PM Modi To Dedicate 75 Digital Banking Units Across 75 Districts To The Nation Today

The Prime Minister's Office stated that DBUs will be brick-and-mortar outlets that will provide a variety of digital banking facilities to people

Prime Minister Narendra Modi will address the gathering on the occasion via video conferencing. 

Source : PIB

New Delhi: Prime Minister Narendra Modi will dedicate 75 Digital Banking Units (DBUs) to the nation on Sunday in a measure to deepen financial inclusion.

The event will take place at 11 AM and he will address the gathering on the occasion via video conferencing. 

A statement by the Prime Minister's Office (PMO) mentioned, "As part of the Union budget speech for 2022-23, the Finance Minister had announced the setting up of the 75 DBUs in 75 districts of the country to commemorate the 75 years of independence of our country. The DBUs are being set up with an objective to ensure benefits of digital banking reach every nook and corner of the country and will cover all the States and Union territories. 11 Public Sector Banks, 12 Private Sector Banks and one Small Finance Bank are participating in the endeavour."

It further stated that DBUs will be brick-and-mortar outlets that will provide a variety of digital banking facilities to people such as opening of savings accounts, balance-check, print passbook, transfer of funds, investment in fixed deposits, loan applications, stop-payment instructions for cheques issued, apply for credit/debit cards, view statement of account, pay taxes, pay bills, make nominations, etc. 

DBUs will enable customers to have cost effective, convenient access and enhanced digital experience of banking products and services throughout the year. They will spread Digital Financial Literacy and special emphasis will be given to customer education on cyber security awareness and safeguards, as per the PMO.

"There shall also be adequate digital mechanisms to offer real-time assistance and redress customer grievances arising from business and services offered by the DBUs directly or through Business Facilitators/ Correspondents," it stated.