New Delhi: PM Narendra Modi has launched today 75 Digital Banking Units (DBUs) in 75 districts across the country in order to promote and deepen financial inclusion in the country. DBUs will be brick and mortar outlets providing paperless, digital banking facilites to customers and spread financial literacy and customer education on cyber security awareness. The establishment of DBUs in this fiscal year across the country was announced by FM Nirmala Sitharaman in her budget speech.
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DBUs are brick and Mortar outlets that provide an array of digital banking facilities to people such as opening of savings account, 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.
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According to the press release, DBUs aims to provide cost effective, convenient access and enhanced digital experience of banking products and services all round the year. Moroever, they will have the responsibility to spread Digital Financial Literacy and special emphasis for customer education on cyber security awareness and safeguards.
