Digital banking units, Financial services company

The Reserve Bank of India (RBI) on Thursday issued guidelines for the establishment of 'Digital Banking Units' as announced in the Union Budget 2022-23 by Finance Minister Nirmala Sitharaman earlier this year.In the Union Budget 2022-23 the finance minister made announcements for setting up of 75 Digital Banking Units (DBUs) in 75 districts to commemorate the 75 years of independence of the country.In pursuance of the budget announcement a 'Committee for the establishment of Digital Banking Units (DBUs)' was set-up by the Reserve Bank to outline a roadmap for the establishment of DBUs.The Committee after necessary consultations and deliberations gave its recommendations on different aspects of DBU viz., the digital banking unit model, facilities to be offered in DBUs, monitoring of functioning of DBUs, cyber security and other IT related aspects, role of DBU in the spread of digital banking awareness, etc."Based on the recommendations of the Committee, the guidelines on 'Establishment of Digital Banking Units' have been finalised," RBI said in a statement.Digital Banking Unit is 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.As per the guidelines released by the RBI, the Digital Banking Units of the banks will be treated as banking outlets.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Digital Banking UnitsFOLLOW

Digital banking units, Latest News

Business :PM Modi to inaugurate 75 digital banking units across 75 districts on Oct 16

In a measure aimed at deepening financial inclusion, Prime Minister Narendra Modi will dedicate 75 Digital Banking Units (DBUs) to the nation on October 16 at 11 am via video conferencing. ...

Business :Mastertrust: Women Mastering Finances The Trusted Way

New Delhi, 19th August 2022: Along with ‘Azadi Ka Amrit Mahotsav’, this Independence Day is a celebration of the ... ...

Business :mastertrust: Women Mastering Finances The Trusted Way

August 18:Along with ‘Azadi Ka Amrit Mahotsav’, this Independence Day is a celebration of the Indian Investment Landscape and ... ...

Business :Capricot Technologies is now a part of VinZero

Having worked together for the past few years under a Global Alliance agreement, Capricot India, A2K Technologies and Cloud A2K ANZ, U.S. CAD The Americas and Cadline EMEA and UK, today announce the formalization of this brand partnership as VinZero. ...

Business :RBI releases guidelines on establishment of Digital Banking Units

The Reserve Bank of India (RBI) on Thursday issued guidelines for the establishment of 'Digital Banking Units' as announced in the Union Budget 2022-23 by Finance Minister Nirmala Sitharaman earlier this year. ...