Prime Minister Narendra Modi will dedicate two digital banking units of Jammu and Kashmir Bank to the nation today via videoconferencing, officials said.
“To deepen financial inclusion, the Prime Minister will inaugurate 75 digital banking units (DBUs) of different banks across the country including two of Jammu and Kashmir Bank,” the officials said.
Of the two DBUs of Jammu and Kashmir Bank, one is the SSI branch at Lal Chowk in Srinagar and the other is the Channi Rama branch in Jammu.
The DBUs are being set up to ensure that the benefits of digital banking reach every nook and corner of the country. Eleven banks in the public sector, 12 in the private sector and one Small Finance Bank are participating in the endeavour.
DBUs will provide a variety of digital banking facilities to people such as opening a savings account, account balance check, printing passbook, funds transfer, fixed deposit investments, loan applications, application for credit or debit cards, and bill and tax payments among others.