365Telugu.com Online News, Delhi, October16th, 2022: Prime Minister Narendra Modi will dedicate two digital banking units of Jammu and Kashmir Bank to the nation through a video conference. Modi will also address the nation on this occasion. To deepen financial inclusion, the Prime Minister will on Sunday inaugurate 75 Digital Banking Units (DBUs) of various banks across the country, including two in Jammu and Kashmir Bank, officials said.
Jammu and Kashmir Bank has two DBUs, one is SSI Branch at Lal Chowk, Srinagar and the other is Channi Ram Branch, Jammu. As part of Union Budget 2022-23, Finance Minister Nirmala Sitharaman announced setting up of 75 DBUs in several districts of the country to commemorate 75 years of India’s independence. DBUs are being set up so that the benefits of digital banking reach every corner of the country.
11 public sector banks and 12 private sector small finance banks are participating in this effort. DBUs offer a wide range of digital banking facilities to people like opening savings account, checking account balance, printing passbook, fund transfer, fixed deposit investments, loan applications, application for credit or debit cards, bill and tax payments.