PM Narendra Modi dedicates 75 Digital Banking Units (DBUs) to the nation via video conferencing.

NEW DELHI, Oct 16: Prime Minister Narendra Modi dedicated two digital banking units of Jammu and Kashmir Bank to the nation on Sunday via videoconferencing.
“Digital Banking Units will improve banking and financial management, promote transparency and also promote financial inclusion,” Prime Minister Modi said while addressing the nation on the occasion.
Modi also hailed India's digital prowess and DBT. “NewIndia has become a global leader in establishing its presence as a digital facilities provider in the banking sector. The world is applauding our strengths,” PM said.
To deepen financial inclusion, the prime minister inaugurated 75 digital banking units or DBUs of different banks across the country including two of Jammu and Kashmir Bank. Of the two DBUs of Jammu and Kashmir Bank, one is the SSI branch at Lal Chowk in Srinagar and the other is the Channi Rama branch in Jammu.
As part of the Union budget 2022-23, Finance Minister Nirmala Sitharaman had earlier announced the setting up of the 75 DBUs in as many districts of the country to commemorate 75 years of India's independence.
“DBUs will enable customers to have cost effective and convenient access, and get an enhanced digital experience of banking products and services all-round the year,” Prime Minister said during the launch.
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 also 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.