- In the Union Budget 2022-23, the government of India announced the setting up of 75 Digital Banking Units (DBUs) in 75 districts to commemorate the 75 years of independence of our country (Azadi ka Amrit Mahotsav).
- To achieve this objective, the Reserve Bank of India has released the guidelines on the establishment of Digital Banking Units (DBUs).
- Digital Banking Unit (DBU): It will be a specialised fixed point business unit / hub housing certain minimum digital infrastructure for delivering digital banking products & services as well as servicing existing financial products & services digitally, in both self-service and assisted mode for a minimum of 4 hours per day for at least five days a week.
- Which Banks can open Digital Banking Unit?– Scheduled Commercial Banks (other than RRBs, Payments Bank and Local Area Banks) with past digital banking experience are permitted to open DBUs in Tier 1 to Tier 6 centres.
Points to remember:
- In Union Budget 2022-23, GOI announced setting up of how many Digital Banking Units (DBUs)?- 75
- Minimum hours and minimum days of working of DBUs?- minimum of 4 hours per day for at least five days a week
- Which banks cannot open DBU?- Regional Rural Bank, Payments Bank, Local Area Bank
Source: RBI
Extra Info:
Definition of Digital Banking Unit (DBU): A specialised fixed point business unit / hub housing certain minimum digital infrastructure for delivering digital banking products & services as well as servicing existing financial products & services digitally, in both self-service and assisted mode, to enable customers to have cost effective/ convenient access and enhanced digital experience to/ of such products and services in an efficient, paperless, secured and connected environment with most services being available in self-service mode at any time, all year round.
They should provide such services for a minimum of 4 hours per day for at least five days a week.