PM Modi dedicates 75 digital banking units across 75 districts to nation

New Delhi, October 16: Prime Minister Narendra Modi dedicated 75 Digital Banking Units (DBUs) to the nation on Sunday in order to promote financial inclusion. Union Finance Minister Nirmala Sitharaman and Reserve Bank of India (RBI) Governor Shaktikanta Das were also present at the virtual launch ceremony. To commemorate the country's 75 years of independence, 75 DBUs were established in 75 districts around the country. As per the Prime Minister's Office (PMO), DBUs will be brick-and-mortar outlets which will provide a variety of digital banking facilities to people like the opening of savings accounts, balance-check, printing passbooks, transfer of funds, investment in fixed deposits, loan applications, stop-payment instructions for cheques issued, applications for credit and debit cards, tax and bill payment and nominations. Also Read | AAP minister Baljit Kaur's convoy rams speeding car into scooty, two seriously injured According to the PMO statement, DBUs will provide customers with cost-effective, convenient access to and an enhanced digital experience of banking products and services throughout the year. The DBUs are being established to ensure that the benefits of digital banking reach every part of the country, including all states and union territories. Eleven public sector banks, twelve private sector banks, and one small financing bank are taking part in the venture. It stated that they will promote Digital Financial Literacy and will place a specific emphasis on customer education on cyber security awareness and safeguards. There must also be adequate digital processes in place to provide real-time help and address customer grievances arising from business and services provided by DBUs directly or through business facilitators and correspondents. Also Read | Punjab VB arrests ex-minister Sunder Sham Arora for bribing official -PTC News with ANI inputs