Shaktikanta Das: Virtual Launch of Digital Banking Units (DBUs)
Welcome remarks by Mr Shaktikanta Das, Governor of the Reserve Bank of India, at
the Virtual Launch of Digital Banking Units (DBUs), 16 October 2022.
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Hon'ble Prime Minister, Hon'ble Finance Minister, Hon'ble Ministers from the Central
Government, Hon'ble Chief Ministers and Ministers from the State Governments,
Hon'ble MPs and MLAs, Officers from Central and State Governments, Deputy
Governors of RBI, MD&CEOs of Banks, Dignitaries and participants from across the
country, Ladies and Gentlemen.
2. It is my proud privilege to welcome the Hon'ble Prime Minister to this event. His
presence here is a great source of inspiration for all of us. I take this opportunity to also
welcome the Hon'ble Finance Minister, the Ministers of State for Finance, other
Ministers, distinguished dignitaries, and guests.
3. This is indeed a historic occasion when 75 Digital Banking Units (DBUs) are being
dedicated to the service of the nation by the Prime Minister at a time when we are
celebrating 'Azadi Ka Amrit Mahotsav'. This is a joint initiative of the Government, the
RBI, the Indian Banks Association and the participating banks.
4. In recent years, digital banking has emerged as a preferred channel for delivering
banking services in the country. The Reserve Bank has been taking progressive
measures to improve availability of digital infrastructure for banking services. Following
the announcement made in the Union Budget 2022-23 for setting up of 75 DBUs, the
RBI issued the required guidelines after consulting the Indian Banks Association and
other experts in the field. It is heartening to note that the commercial banks - both in the
public and private sectors - have responded very positively to this initiative. 75 DBUs
have been set up in record six months' time in 75 districts of the country to
commemorate 75 years of our independence.
5. Our focus is to harness the benefits of technology and innovation in the banking
space. The establishment of DBUs is a step to further augment the digital infrastructure
in the country. This will act as an enabler in the digital ecosystem and will improve
customer experience by facilitating seamless banking transactions. The DBUs will
augment our efforts to promote financial inclusion by providing banking services in a
paperless, efficient, safe and secure environment. The specific financial services to be
provided by the DBUs include, among other things, savings, credit, investment and
insurance. On the credit delivery front, to start with, the DBUs will provide end-to-end
digital processing of small ticket retail and MSME loans, starting from online
applications to disbursals. The DBUs will also provide services related to certain
identified government sponsored schemes. The products and services in these Units
will be provided in two modes, namely, self-service and assisted modes, with
selfservice mode being available on 24*7*365 basis. The banks are also free to engage the
services of digital business facilitators and business correspondents to expand the
footprint of the DBUs.
6. I take this opportunity to appreciate the commendable work done by the Indian
Banks' Association, the banks which have established these DBUs, the Department of
Financial Services in the Ministry of Finance, my colleagues in the RBI for their
concerted efforts in setting up these 75 DBUs in a very short span of time.
7. I once again take this opportunity to welcome the Hon'ble PM, the Hon'ble FM, the
other dignitaries and all the participants to this important event.
Thank you.