PM Modi Launches Digital Banking Units In 75 Districts, Financial Literacy Will Get A Boost

PM Modi Launches Digital Banking Units

PM Modi Launches Digital Banking Units In 75 Districts, Financial Literacy Will Get A Boost

October 16, 2022: Prime Minister Narendra Modi today launched 75 Digital Banking Units (DBUs) through video conferencing with the objective of taking banking facilities to the last person in the country.

In the budget speech of this financial year, the country’s Finance Minister Nirmala Sitharaman announced to set up of 75 DBUs in 75 districts of the country to commemorate 75 years of independence.

While launching the Digital Banking Units, he said that it is our resolve to bring transparency in banking services and take its benefits to the last person.

Today, the number of bank branches per 100,000 adult population in India exceeds that of Germany, China, and South Africa.

Along with this, he said that digital banking units will make the lives of common people easier. This special type of banking facility will benefit more and more people, at least in the digital infrastructure.

The government’s goal behind setting up DBU is to spread the benefits of digital banking to every nook and corner of the country.

In this scheme, all the states and union territories of the country will be covered. 11 government banks, 12 private banks, and one small finance bank are participating in this effort of the government.

These facilities will be available in DBUs

According to a statement issued by the Prime Minister’s Office, people can open savings accounts, check account balances, print passbooks, fund transfers, open FD, apply for loans, and apply for credit and debit cards at the outlets of digital banking units. You can avail of facilities like bill payment and enrollment.

DBUs will boost financial literacy

In a statement issued by the PMO, it has been said that DBU will provide digital banking facilities to customers at a very affordable cost. Along with this, they will also spread financial literacy and spread awareness about cyber security among the people.

Customer problems will be solved

The DBU will have a system for quick resolution of the problems of the customers. It will be provided by DBU either directly or through business service providers.

It will also be ensured that there is no loss to the customers in DBU and that all the services are easily availed online. DBU will focus more on digital banking.

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