The digital banking units (DBUs) will enable people who do not have a personal computer, laptop, or even a smartphone, to be able to access banking services, said Union Finance Minister Nirmala Sitharaman on Sunday
Sitharaman while participating in the launch via video conference from Washington DC, said that they can do it digitally in a paperless mode.
“For those who are not even tech-savvy, there is a mode where they can be facilitated to avail of these paperless services,” she said.
The Finance Minister said that deploying technology to achieve development goals is the hallmark of our government.
Sitharaman said, “As the Reserve Bank Governor also explained, paperless operations will be available 24×7. Even cash deposit facilities or opening of a fixed deposit or recurring deposits, one can avail of all these services.”
She added that the government’s credit link schemes through the Jan Samarth portal would also be available for ordinary users, micro, small and medium enterprises (MSME) and retail loan users can benefit from it.
She said that financial literacy can be promoted through these DBU units. Financial inclusion and digital banking go another mile in achieving greater digitising and formalization of the Indian economy.
“I urge all the representatives who are present here today to spend at least some time each day to promote literacy, financial literacy, digital education for the bank customers and for all those business units which are small in your neighbourhood,” Sitharaman said.
She stated that popularizing digital banking is important, so the most important aspect is that it is going to be cost-effective for the consumer and it is going to be absolutely safe and secure for them to use it.
“These thoughts will have to be promoted by the bank agents, meaning banking agents, banking correspondent bank managers and all officials so that greater formalization of the Indian economy can be achieved,” the minister added.
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