Digital banking unit will be started in 75 districts: Due to this, you will not be able to do transactions related to cash, know everything about digital banking unit

Prime Minister Narendra Modi will inaugurate 75 Digital Banking Units (DBUs) in 75 districts on completion of 75 years of country’s independence. It can be launched on August 15. These units will be completely paperless. What is Digital Banking Unit to us today? Bankbazaar.com CEO Adil Shetty is answering questions like what will be able to do with its help, where will it be made.

What is Digital Banking Unit?

Commercial banks, which are already doing digital banking, will now be able to run digital bank units as well. These banks will be physical, that is, you will be able to go to these units but their services will be completely digital.

What can you do in these units?

These units will be separate from the common bank branches. According to RBI, they will have to provide at least services like savings and current accounts, fixed and recurring deposits, metro and transit cards, internet banking, debit and credit cards, loans, BHIM QR codes. All those things that you can do on net banking, it is expected that you will be able to do it here too. The important thing is that there will be no cash work here.

Where will the DBUs be made? It will be available from Tier-1 to Tier-6, that is, from metro cities to small towns. Banks will not have to take separate permission of the Reserve Bank for setting up these.

What will be the benefit to the customers?

The benefits of digital banking have so far reached only about 200 million Indians. Crores of citizens are still out of the digital banking system. They will also be able to take advantage of digital banking services from DBU.

What will be the benefit to the economy?

Banks will now reach such corners of India where setting up branches was difficult. This will make it possible to serve more customers. Banks will be able to increase their business.