Digital Banking Units in India – Key Facts, Full List

Following the Finance Minister’s announcement to build 75 DBUs in the Budget 2022 speech to commemorate our country’s 75th anniversary, the Prime Minister, Shri Narendra Modi, dedicated 75 Digital Banking Units (DBU) across 75 districts to the country through video conference. To help India move to a cashless and inclusive economy, the government, the Reserve Bank of India, and the Indian Banks Association together launched DBUs. 11 public sector banks, 12 private sector banks, and one small financing bank collaborated in the initiative.

What is Digital Banking Units in India? 

Specialties of Digital Banking Units in India – Key Highlights

• Digital Banking Units simplify the banking procedure in India
• A reliable and secure financial system will be offered.
• By providing digital banking services across the nation, these DBUs will reach all states and union territories.
• The services offered through this initiative include the opening of savings accounts, checking account balances, printing passbooks, transferring money, investing in fixed deposits, applying for credit or debit cards, reviewing account statements, paying taxes and bills, making nominations, etc.
• Residents of small towns and villages can find advantages such as credit availability and money transfers.
• Savings, credit, investment, and insurance goods and services will all be provided by DBUs.
• DBUs will offer savings, credit, investment, and insurance products/ services.
• They will also participate in government-sponsored initiatives. 
• It will promote Digital financial literacy and cybersecurity education
• Real-time assistance
• People who do not have personal computers, laptops, or smartphones will be able to use DBUs to access banking services
• The products and services at DBUs will be available in two modes: self-service mode and assisted mode. Self-service mode shall be available 24 hours a day, seven days a week.
• DBUs will offer savings, credit, investment, and insurance products/ services.
• They will also participate in government-sponsored initiatives. 
• It will promote Digital financial literacy and cybersecurity education
• Real-time assistance
• People who do not have personal computers, laptops, or smartphones will be able to use DBUs to access banking services
• The products and services at DBUs will be available in two modes: self-service mode and assisted mode. Self-service mode shall be available 24 hours a day, seven days a week.

What is 75 Digital Banking Units (DBUs) in the Budget 2022 – Full List