<h1 class="ql-align-center"><strong style="color: rgb(230, 0, 0);">Digital Banking Units</strong></h1><p class="ql-align-center"><br></p><h3><strong>Context&nbsp;</strong></h3><ul><li class="ql-indent-1">The union <strong>Minister of State for Finance</strong> stated&nbsp;in Lok Sabha that as on date, 84 DBUs are operational across the country.</li><li class="ql-indent-1">The <strong>Union Budget 2022-23</strong> announced the setting up of 75 digital banking units (DBUs).</li></ul><h3><br></h3><h3><strong>﻿About&nbsp;</strong></h3><ul><li class="ql-indent-1">A DBU is a specialized fixed point business unit/hub housing a certain minimum digital infrastructure for delivering digital banking products and services as well as servicing existing financial products &amp; services digitally, in both self-service and assisted mode.</li><li class="ql-indent-1">DBUs have been opened by<strong> both the public sector as well as private banks.&nbsp;</strong></li><li class="ql-indent-1">The <strong>State Bank of India (SBI) </strong>has opened the highest number of DBUs.&nbsp;</li><li class="ql-indent-1">Apart from the public sector banks, two private lenders, ICICI Bank and HDFC Bank, have also announced setting up DBUs.&nbsp;</li></ul><h3><br></h3><h3><strong>Service provided by DBUs&nbsp;</strong></h3><ul><li class="ql-indent-1">DBUs will provide several digital banking services to account holders in an efficient, paperless, secured and connected environment.&nbsp;</li><li class="ql-indent-1">DBUs provide digital services in<strong> both self-service and assisted modes.</strong></li><li class="ql-indent-1">DBU will provide most of the banking services in <strong>self-service mode at any time, all year round (24x7) including cash deposit &amp; withdrawal.&nbsp;</strong></li><li class="ql-indent-1">At the Self-service Zone, the customers can access an <strong>ATM, a Cash Deposit Machine (CDM) and a Multi-Functional Kiosk (MFK)</strong> that offers services like printing of passbook, depositing cheque and accessing internet banking.&nbsp;</li><li class="ql-indent-1">It will also provide a digital interactive screen where customers can interact with a chatbot to know about products, offers and mandatory notices.&nbsp;</li><li class="ql-indent-1">DBUs will also provide hands-on education (financial literacy) on safe digital banking products and practices to the customers.&nbsp;</li><li class="ql-indent-1">DBUs will also offer grievance <strong>redressal services to the customers.</strong></li></ul><p class="ql-align-center"><br></p><h1 class="ql-align-center"><strong>PRELIMS NOTES:</strong><a href="https://sunyaias.in/notes/prelims-2023" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 102, 204);"><strong>CLICK HERE</strong></a></h1>