Banks will soon offer services 24X7 digitally: Big move from RBI to help customers
Zee News
The Reserve Bank of India (RBI) said existing banks can open digital banking units to offer products and services in both self-served and assisted mode round-the-clock.
New Delhi: The Reserve Bank of India on Thursday said existing banks can open digital banking units to offer products and services in both self-served and assisted mode round-the-clock.
In the Union Budget, the government announced the setting up of at least 75 such units in 75 districts to commemorate 75 years of the country's independence as 'Azadi ka Amrit Mahotsav'.
According to the guidelines on the establishment of Digital Banking Units (DBUs), the products and services to be provided at a DBU include, opening of accounts, cash withdrawal and deposit, KYC updation, loans and complaint registrations.
"Digital banking products and services would generally mean those financial products/services whose designs and fulfilments have nearly end-to-end digital life cycle with the initial customer acquisition/product delivery necessarily taking place digitally through self-service or assisted self-service," it said.
A DBU is a specialised fixed point business unit/hub housing certain minimum infrastructure for delivering digital banking products and services to ensure convenient and cost-effective banking for customers.
