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RBI issued guidelines for banks to set up digital banking units, know full news

RBI Guidelines to Banks: The Reserve Bank of India (RBI) said that existing banks can open continuously open digital banking units. These units will be of two types – where in the first the customer will take all the services himself, in the second he can be assisted for this. In the general budget, the government had announced to set up at least 75 such units in 75 districts to mark the completion of 75 years of the country’s independence.

What facilities will be available in these units?
As per RBI’s guidelines on setting up of Digital Banking Units (DBUs), the services provided by these units include account opening, cash withdrawal and deposits, KYC updates, loan and complaint registration.

Services will be available in completely digital form
The guidelines said that digital banking products and services generally mean those financial products and services, which are almost entirely digital, where customers avail themselves of the products or services.

These banks are allowed
As per the guidelines, scheduled commercial banks having experience in digital banking are allowed to open digital banking units in Tier-I to Tier-VI centers (from large centers to small centers) without taking permission from RBI.

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