(ET)
Prime Minister Narendra Modi on Sunday launched 75 Digital Banking Units (DBUs) in 75 districts with an objective to promote financial inclusion. The ceremony was attended by union finance minister Nirmala Sitharaman and Reserve Bank of India (RBI) governor Shaktikanta Das via virtual mode, reported. The setting up of 75 DBUs in 75 districts of the country was done to commemorate the 75 years of independence of the country.
According to Prime Minister’s Office (PMO), DBUs will be brick-and-mortar outlets which will provide a variety of digital banking facilities to people such as 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.
