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PM Modi inaugurates 75 'digital banking units' across 75 districts

Digital banking units inauguration: As part of Union budget 2022-23, Finance Minister Nirmala Sitharaman had announced the setting up of the 75 DBUs in as many districts of the country to commemorate 75 years of India's Independence.

Edited By: Sheenu Sharma New Delhi Updated on: October 16, 2022 12:18 IST
PM Modi,PM Modi Digital banking units inauguration, Digital banking units inauguration, digital bank
Image Source : PTI/ REPRESENTATIONAL (FILE). PM Modi to inaugurate 75 digital banking units via video conferencing today.

Highlights

  • PM Narendra Modi dedicated 2 digital banking units of Jammu and Kashmir Bank to the nation
  • PM also inaugurated 75 DBUs of different banks across the country
  • PM Narendra Modi also addressed the nation on the occasion

Digital banking units inauguration: Prime Minister Narendra Modi dedicated two digital banking units of Jammu and Kashmir Bank to the nation on Sunday (October 16) via video conferencing. 

To deepen financial inclusion, the prime minister on Sunday inaugurated 75 digital banking units (DBUs) of different banks across the country of which two are of Jammu and Kashmir Bank. 

PM Modi also addressed the nation on the occasion.

Of the two, one is the SSI branch at Lal Chowk in Srinagar and the other is the Channi Rama branch in Jammu.

Know more about DBUs

As part of the Union budget 2022-23, Finance Minister Nirmala Sitharaman had announced the setting up of the 75 DBUs in as many districts of the country to commemorate 75 years of India's Independence.

The DBUs are being set up to ensure that the benefits of digital banking reach every nook and corner of the country. Eleven banks in the public sector, 12 in the private sector and one Small Finance Bank are participating in the endeavour.

DBUs will provide a variety of digital banking facilities to people such as opening a savings account, account balance check, printing passbook, funds transfer, fixed deposit investments, loan applications, application for credit or debit cards, and bill and tax payments among others.

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