New Delhi: “In recent times, digital banking, payment systems, and financial technologies have evolved at a rapid rate in the country,” the Finance Minister said in the Budget for 2022-23. The government continues to support these industries in order to ensure that the benefits of digital banking reach every corner of the country in a consumer-friendly manner. Will forward this goal and celebrate our 75th year of independence, it is planned that Scheduled Commercial Banks establish 75 Digital Banking Units (DBUs) in 75 districts across the country.” Following the report of an Indian Banks Association working group, the Reserve Bank of India released guidelines for DBUs earlier this month. A digital banking unit is a specialised fixed point business unit or hub that houses specific basic digital infrastructure for offering digital banking products and services and servicing current financial products and services in self-service mode during any time.
