Prime Minister Narendra Modi on Sunday dedicated 75 Digital Banking Units (DBUs) across 75 districts to the nation, including two in Jammu and Kashmir (J&K), and asserted that his Government has given top priority to ensure that banking services reach the last mile.
“Today the number of branches per one lakh adult citizens in India is more than countries like Germany, China, and South Africa,” Modi said adding “The IMF has praised India’s digital banking infrastructure.”
The Prime Minister pointed out that paper and ink for currency printing are imported, and by adopting a digital economy “we are contributing to a self-reliant India while also benefiting the environment by reducing the consumption of paper.” Of the two DBUs of Jammu and Kashmir Bank, one is the SSI branch at Lal Chowk in Srinagar and the other is the Channi Rama branch in Jammu.
Dedicating 75 DBUs to the nation via video conferencing, the Prime Minister on Sunday said new digital units 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.
The Prime Minister informed that in such a banking set-up, the Government aims to provide maximum services with minimum infrastructure, and all of this will happen digitally without involving any paperwork.