On October 16, 75 Digital Banking Units (DBUs) will be dedicated to the nation. The Prime Minister’s Office said in a statement that in the Union Budget speech for 2022-23, the Finance Minister had announced the establishment of 75 DBUs in 75 districts of the country to commemorate 75 years of our country’s independence. DBU is being set up with an aim to ensure the benefits of Digital Banking to every nook and corner of the country. It will cover all the states and union territories.
DBU will provide variety of digital banking facilities
11 public sector banks, 12 private sector banks and one small finance bank are participating in this mission. The DBUs will be small multi-use outlets that will provide a variety of digital banking facilities. Opening Savings Account, Checking Balance, Printing Passbook, Fund Transfer, Fixed Deposit, Loan Application, Stop-Payment Instructions for Check Issued, Credit/Debit Card Application, View Account Statement, Tax & Bill Payment & Nomination Such services will be available here.
Digital financial literacy will get a boost
DBU will facilitate customers to access banking products and services throughout the year. Digital banking units will spread financial literacy. By promoting digital methods of banking, it will prove to be helpful in making customers aware of cyber security.
Services will be provided by DBU either directly or through Business Service Providers. The system will have adequate digital mechanisms for redressal of customer complaints. It will be ensured that there is no loss to the customers and they get the benefit of all the services online.
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