Lok Sabha Question No. 105 (UNSTARRED), answered on 2022-07-18
Subject: Digital Banking Infrastructure
Ministry: FINANCE
Asked by: Gowdar Mallikarjunappa Siddeshwara

## GOVERNMENT OF INDIA MNISTRY OF FINANCE

## LOK SABHA

## UNSTARRED QUESTION NO-105 ANSWERED ON 18/07/2022

## DIGITAL BANKING INFRASTRUCTURE

## 105. SHRI GM SIDDESHWAR

Will the Minister of FINANCE be pleased to state:

- whether the Goverment iS considering to set up a Digital Infrastructure Corporation; Banking
- (6) if so, the details thereof; and
- the banking   services and also   digital platforms to the across the country? lending people

## ANSWER

## TH MNSTER OF STATE IN TH MNISTRY OF FINANCE

(DR BHAGWAT KARAD)

- (a) to (c): Government has taken a number of steps to facilitate digital banking, doorstep banking services and digital platforms  These include, inter-alia, the following; lending
- Through improvements in digital channels, has been made accessible by way of PSBloansin59minutes.com: to provide online in principle approval for MSME loans based on data of credit bureau; income-tax and and services tax (GST) lending goods
- (1) An  initiative Jeevan   Pramaan' for pensioners by the Government has provided senior citizen pensioners, the to their annual life certificate online. facility update
- (3) Onboarding of Public Sector Banks   (PSBs) onto the Trade Receivables Discounting System (TReDS) pltform has enabled online bill discounting for MSMEs competitive and the proportion of online discounted bills has grown rapidly:
- Enhanced access to Mobile and Internet banking has been enabled through an increase in the average number of services offered (43), customerfriendly (135) and language customer interface (8); features regional
- (4) Under the Government-initiated PSB Reforms Agenda \_
- (@) End-to-end automated   digital has been  introduced in five   PSBs) , to micro lending larger loans

enterprises  (Shishu Mudra' in five PSBs) and renewals of loans to micro, small and medium enterprises (in three PSBs);

- (iv) Customer-need-driven, analytics-based credit offers have been given an impetus, resulting in Rs. 82,139 crore of fresh retail loan disbursements by the ten larger PSBs in the financial year (FY) 2021-22.
- (i)Digital retail loan request initiation through digital channels has been enabled in all the PSBs, with personal segment disbursements from loan requests so initiated in the financial year (FY)2021-22 amounting to Rs. 5,75,411 crore;

As a result, nearly 79% of financial transactions of PSBs are now done through digital channels, with a many fold increase of customers active on digital channels ie 3.4 crore in FY2O19-20 to 9.4 crore in FY2021-22.

- 5) PSB Alliance, an initiative of all PSBs and Indian Banks' Association, has Jaunched   doorstep services  for all  customers, including  senior citizens; through call centre (1800-121-3721 and 1800-103-7188) , web 'psbdsb.in/ and / / doorstepbanks.com mobile app (Google Store). At present 15 services are offered in 100 cities across the country, which include cash withdrawal or deposit; up of or demand draft or pay order 4P of cheque-book requisition slip, pick-up of income-tax forms no\_ 15G/15H pick-up of income-tax/ GST challan; and delivery of tax deduction at source (TDS) and  Form-16 certificates for income-tax purposes. banking portal (https:/ https:/ Play being cheque etc ,

As on date, there is no Proposal under consideration of the Govemment for up of a Digital setting