DBUs To Act As Enabler In Digital Ecosystem; Will Improve Customer Experience: Das
Digital banking has emerged as a preferred channel for delivering banking services in the country, said the Reserve Bank of India (RBI) Governor Shaktikanta Das on Sunday.
He said that the Reserve Bank has been taking progressive measures to improve the availability of digital infrastructure for banking services.
Following the announcement made in the Union Budget 2022-23 for setting up of 75 DBUs, the RBI issued the required guidelines after consulting the Indian Banks Association and other experts in the field, he added.
Das noted that the commercial banks – both in the public and private sectors – have responded very positively to this initiative. 75 DBUs have been set up in a record six months’ time in 75 districts of the country to commemorate 75 years of our independence.
He said that DBUs will act as an enabler in the digital ecosystem and will improve customer experience by facilitating seamless banking transactions and also augment our efforts to promote financial inclusion by providing banking services in a paperless, efficient, safe and secure environment.
The RBI Governor further said, the specific financial services to be provided by the DBUs include, among other things, savings, credit, investment and insurance.
"On the credit delivery front, to start with, the DBUs will provide end-to-end digital processing of small ticket retail and MSME loans, starting from online applications to disbursals," he said.
Das also said that the DBUs will also provide services related to certain identified government sponsored schemes.
"The banks are also free to engage the services of digital business facilitators and business correspondents to expand the footprint of the DBUs," he said.
