Digital Banking Units Will Promote Financial Inclusion: RBI Governor

0 0
0 0
Digital Banking Units Will Promote Financial Inclusion: RBI Governor
Read Time:2 Minute, 11 Second


Digital infrastructure for banking services improving; RBI Governor

The Reserve Bank of India has been taking several measures to augment digital banking infrastructure for improved customer experience. 

“The Reserve Bank has been taking progressive measures to improve the availability of digital infrastructure for banking services,” said Governor Shaktikanta Das on Sunday. 

Speaking at the launch of 75 digital banking units (DBUs) across 75 districts of the country by Prime Minister Narendra Modi, the RBI Governor said, “DBUs will act as an enabler in the digital ecosystem and will improve customer experience by facilitating seamless banking transactions as also augment our efforts to promote financial inclusion by providing banking services in a paperless, efficient, safe and secure environment.”

Prime Minister Narendra Modi, on Sunday, dedicated 75 Digital Banking Units (DBUs) to the nation as part of the ‘Azadi ka Amrit Mahotsav’, which is being celebrated to commemorate 75 years of Independence.

Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das attended the event through virtual mode.   

Setting up DBUs across 75 districts is a joint initiative by the government, the RBI and the Indian Banks Association.

Calling the occasion a historic moment, Shaktikanta Das said that 75 DBUs had been set up in record six months.

“Following the announcement made in the Union Budget 2022-23 for setting up 75 DBUs, the RBI issued the required guidelines after consulting the Indian Banks Association and other experts in the field. The commercial banks – both in the public and private sectors – have responded very positively to this initiative. 75 DBUs have been set up in a record six months’ time in 75 districts of the country,” said the RBI governor.

Mr Das highlighted that the DBUs would offer savings, credit, investment and insurance services, including end-to-end digital processing for retail and MSME loans.

“On the delivery front, to start with, the DBUs will provide end-to-end digital processing of small ticket retail and MSME loans, starting from online applications to disbursals,” he added.

The DBUs will provide services related to different government-sponsored schemes in two modes: self-service and assisted. The self-service facility will be available 24×7 throughout the year. The banks can also engage the services of digital business facilitators and business correspondents to expand the services.   

According to the list issued by the RBI, the State Bank of India has set up 12 DBUs, Punjab National Bank 4 and Bank of Baroda 8. Among the private sector lenders, HDFC Bank and ICICI Bank have set up 4 DBUs each, while Axis Bank has set up 3.



Source link

About Post Author

Newslaava

“I am an architect, animator and teacher working in architecture and design at __india__. This site is a great resource for anyone looking to get more updates from their home. Fill your home (heart) with more trending accessories from choosing the best colors for your mind room. NewsSalava.com will rob your heart .... Cool
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a Comment

LUKA DEFEATS STEPH AND MAVS EDGE WARRIORS IN THRIFT TEAM USA PLAYERS EMBRACE SAEID EZATOLAHI OF IRAN ON AN EMOTIONAL LEVEL Week 12 Bengals vs. Titans final score predictions Allen Robinson, wide receiver for Rams, foot injury? The Buccaneers offence is not strong, no. But is it sufficient? engaland world cup: An employee of the US Embassy in London was fired