RBI releases Guidelines on Establishment of Digital Banking Units (DBUs)

The Reserve Bank of India today released the guidelines on “Establishment of Digital Banking Units (DBUs)”. This follows an announcement, made in the Union Budget 2022-23 for setting up of 75 Digital Banking Units (DBUs) in 75 districts to commemorate the 75 years of independence of our country (Azadi ka Amrit Mahotsav).

In pursuance of the budget announcement a ‘Committee for establishment of Digital Banking Units (DBUs)’ was set-up by the Reserve Bank to outline a roadmap for establishment of DBUs. The Committee after necessary consultations and deliberations gave its recommendations on different aspects of DBU viz., the digital banking unit model, facilities to be offered in DBUs, monitoring of functioning of DBUs, cyber security and other IT related aspects, role of DBU in the spread of digital banking awareness, etc. Based on the recommendations of the Committee, the guidelines on ‘Establishment of Digital Banking Units’ have been finalised.