Digital Banking Units to boost financial inclusion: All you need to know

Karnataka, Tamil Nadu, Uttar Pradesh, Odisha and Rajasthan will get four DBUs each, followed by Gujarat, Kerala, Madhya Pradesh, Maharashtra, Punjab, Sikkim and Telangana, with three DBUs each

Prime Minister Narendra Modi inaugurated 75 Digital Banking Units (DBUs) on Sunday to boost financial inclusion in India. Modi said it would "simplify the banking procedure" and provide a "robust and secure" banking system.

In Union Budget 2022, finance minister Nirmala Sitharaman announced that 75 DBUs would be set up to ensure that the benefits of digital banking reach every corner of the country.

What are DBUs?

According to the Reserve Bank of India (RBI), DBU is "a specialised fixed point business unit/hub housing certain minimum digital infrastructure for delivering digital banking products and services as well as servicing existing