Digital Banking Units: Prime Minister Narendra Modi on Monday, October 24, dedicated 75 Digital Banking Units (DBUs) in as many districts across the country to mark and celebrate India's 75th anniversary of independence.
One of the top public sector banks in India, Bank of Baroda, opened at ledigitaast 8 DBUs as part of the initiative that PM Modi announced. According to reports, these 8 DBUs have been opened in Varanasi, Vadodara, Indore, Karauli, Kanpur Dehat, Kota, Leh, and Silvassa.
It should be noted that all services provided by the DBUs will be digital, paperless, and entirely secure.
The DBUs are slated to offer services in two ways in order to meet the requirements and preferences of a wide range of people - first, a Self Service Zone and the second, a Digital Assistance Zone that will aid in assisted service.
The DBUs self-service services would be accessible 365 days a year, around-the-clock. These include wide range of services such as - fund transfers, account opening, fixed deposit and recurring deposit opening, digital loan availment, passbook printing, balance inquiries, and cash withdrawals and deposits.
Sanjiv Chadha, Managing Director & CEO, Bank of Baroda said, "In line with the Government of India's vision for a Digital India, the Digital Banking Units being launched today will help more people access digital banking products and services conveniently & securely and will play a key role in promoting financial literacy and financial inclusion in a digital manner."
He further added, "at Bank of Baroda, we have been on a digital transformation journey and this far-reaching initiative will ensure that the benefits of digital banking reaches citizens across the length and breadth of our country."
(With inputs from PTI)
