PM Modi opens 75 Digital Banking Units (DBUs) from various banks on October 16

New Delhi: Prime Minister Narendra Modi will dedicate two digital banking units of Jammu and Kashmir Bank to the nation via video conference on Sunday. To deepen financial inclusion, the Prime Minister will inaugurate 75 digital banking units (DBUs) from various banks across the country on Sunday, two of which are from Jammu and Kashmir Bank, they said. Modi will also address the nation on the occasion.

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Of the two, one is the SSI branch in Lal Chowk in Srinagar and the other the Channi Rama branch in Jammu. As part of the Union’s 2022-23 budget, Finance Minister Nirmala Sitharaman had announced the creation of 75 DBUs in as many districts of the country to commemorate 75 years of Indian independence.

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The DBUs are being set up to ensure that the benefits of digital banking reach every nook and cranny of the country. Eleven banks in the public sector, 12 in the private sector and one Small Finance Bank are participating in the project. DBUs will provide people with a variety of digital banking facilities such as opening a savings account, checking account balance, printing a passbook, wire transfers, investment in fixed deposits, loan applications, applying for credit or debit cards, and account and debit cards, among others. tax payments.

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