PMO India

PM to dedicate 75 Digital Banking Units across 75 districts to the Nation on 16th October

DBUs to further deepen financial inclusion in the country

In yet another measure to deepen financial inclusion, Prime Minister Shri Narendra Modi will dedicate 75 Digital Banking Units (DBUs) to the nation on 16th October at 11 AM via video conferencing.  He will also address the gathering on the occasion.

As part of the Union budget speech for 2022-23, the Finance Minister announced the setting up of 75 Digital Banking Units in 75 districts of the country to commemorate the 75 years of independence of our country. The DBUs are being set up with the objective to ensure the 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.

DBUs will spread Digital Financial Literacy; also educate customers on cyber security awareness and safeguards

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

DBUs will provide enhanced digital experience of banking products and services all around the year

DBUs will enable customers to have cost-effective, convenient access and enhanced digital experience of banking products and services all round year. They will spread Digital Financial Literacy and special emphasis will be given to customer education on cyber security awareness and safeguards. Also, there shall 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.

Disclaimer : This is an official press release by PIB.

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