Sign In
Learn bits
Economy
Mahesh

17/10/22 09:54 AM IST

PM Modi dedicates 75 digital banking units to the nation

In News 
  • PM Modi recently dedicated 75 Digital Banking Units (DBUs) across 75 districts with an aim to promote financial inclusion.
About DBUs 
  • DBUs are specialised fixed point business unit / hub housing certain minimum digital infrastructure for delivering digital banking products & services as well as servicing existing financial products & services digitally,
  • In both self-service and assisted mode, to enable customers to have cost effective/ convenient access and enhanced digital experience to/ of such products and services in an efficient, paperless, secured and connected environment with most services being available in self-service mode at any time, all year round.
  • The DBUs are being set up with an objective to ensure benefits of digital banking reach every nook and corner of the country. It will cover all the states and Union territories. 
  • DBUs will be brick and mortar outlets which will provide a variety of digital banking facilities such as opening 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 all-round the year.
  • They will spread Digital Financial Literacy and special emphasis will be given to customer education on cyber security awareness and safeguards.
  • There will 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.
Source- Indian Express 

More Related Current Affairs View All

22 Aug

Uttarakhand State Authority for Minority Education (USAME) Bill, 2025

'The Uttarakhand Assembly on Wednesday passed the Minority Education Bill, 2025, extending minority status benefits to institutions run by the Sikh, Jain, Buddhist, Christian, and

Read More

22 Aug

India needs a national space law urgently

'A nation with a strong base in science and technology is a nation with a strong backbone” — these words of A.P.J. Abdul Kalam ring truer than before as India celebrate

Read More

22 Aug

Organ transplantation

'The National Organ and Tissue Transplant Organisation (NOTTO) recently issued a direction stating that women patients and relatives of deceased donors will receive priority in org

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps