Centre Eyes Doubling Digital Banking Units To Up Inclusion

The Union government wants to expand the network of digital banking units to 200 in a year

- Subhash Narayan

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 or hubs 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.