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Centre Plans To Double Digital Banks To Boost Inclusion
Mint Mumbai
|March 08, 2025
To create value at scale, the Centre will first need to spread financial literacy in rural and remote areas, say experts
The Union government proposes to expand the network of digital banking units (DBUs) across the country by nearly doubling their number to around 200 in just over a year. It may also allow DBUs to provide a larger bouquet of financial products, including insurance policies and other financial-inclusion products and schemes of the government, two people aware of the development said on the condition of anonymity.
DBUs are specialized, fixed-point business units equipped with certain minimum digital infrastructure to deliver digital banking products and services as well as servicing existing financial products and services digitally in a convenient and cost-effective way.
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