Digital banking units big leap towards Ease of Living for common citizens, says PM Modi – ET Government

Prime Minister Narendra Modi launches 75 digital banking units (DBU) of various banks across 75 districts in the country via video conferencing on Sunday.

Prime Minister Narendra Modi on Sunday launched 75 digital banking units (DBU) of various banks across 75 districts in the country via video conferencing.

Speaking on the occasion, the Prime Minister stressed that the 75 DBUs will further financial inclusion and enhance banking experience for citizens. “DBU is a big step in the direction of Ease of Living for the common citizens,” he said. With this kind of banking setup, the government aims to provide maximum services with minimum infrastructure, and all of this will happen digitally without involving any paperwork. It will also simplify the banking procedure while also providing a robust and secure banking system. “People living in small towns and villages will find benefits like transferring money and availing loans. The DBUs are another big step in that direction which is going on in the country to make the life of common man of India easier,” he added.

Stating that the aim of the government is to empower the common citizen and make them powerful, and as a result, policies were made keeping in mind the last person and the entire government moving in the direction of their welfare, Modi pointed out the two areas on which the government worked simultaneously. First, reforming, strengthening, and making the banking system transparent, and secondly financial inclusion.

The Prime Minister urged the small business owners from villages to completely move towards digital transactions. He also urged banks to connect 100 merchants with them for going totally digital for the benefit of the country. “I am sure, this initiative will take our banking system and economy to a stage which will be future-ready, and will have the capability to lead the global economy,” Modi concluded.

Union Minister of Finance Nirmala Sitharaman and Governor of Reserve Bank of India Shaktikanta Das were among those present on the occasion. Chief ministers, Union ministers, state ministers, Members of Parliament, banking leaders, experts and beneficiaries were connected via video conferencing.

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