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PM Modi to dedicate 75 digital banking units via video conferencing today: All you need to know

The DBUs are being set up to ensure that the benefits of digital banking reach every nook and corner of the country. As many as 11 banks in the public sector, 12 in the private sector and one Small Finance Bank are participating in the endeavour.

PM Modi to dedicate 75 digital banking units via video conferencing today: All you need to know AJR
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First Published Oct 16, 2022, 9:50 AM IST

Prime Minister Narendra Modi will on Sunday (October 16) dedicate two Digital Banking Units (DBU) of Jammu and Kashmir Bank to the nation via video conferencing, officials said.

In a press release, the PMO said that the prime minister on Sunday will inaugurate 75 digital banking units (DBUs) of different banks across the country of which two are of Jammu and Kashmir Bank to deepen financial inclusion.

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PM Modi will also address 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.

According to 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.

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The DBUs are being set up to ensure that the benefits of digital banking reach every nook and corner of the country. As many as 11 banks in the public sector, 12 in the private sector and one Small Finance Bank are participating in the endeavour.

It is reportedly said that the 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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