New Delhi: Prime Minister Narendra Modi will inaugurate completely paperless 75 digital banking units (DBUs) across 75 districts to commemorate India’s 75th anniversary of independence.
These units will serve as digital financial literacy centres. The Centre finalised 75 districts, and banks have been directed to establish infrastructure and train staff for these DBUs.
The government has identified districts such as Leh, Srinagar, Lakshadweep, Aizawl, Kota, Nainital, and Lucknow. The selected financial institutions have already begun work on bringing these units online by July 2022.
According to the RBI, banks’ DBUs will be treated as banking outlets, and each DBU are to be housed separately, with separate access and exit provisions. According to the RBI, they will be distinct from traditional banking outlets, with layouts and designs tailored to digital banking customers.