NEW DELHI: A digital banking unit (DBU) should have interactive teller machines, video KYC, video conferencing and call facilities. Banking regulator Reserve Bank of India (RBI) on Thursday released the DBU guidelines, according to which only scheduled commercial banks with past digital banking experience are permitted to open DBUs in Tier 1 to Tier 6 centres.
Each DBU must offer certain minimum digital banking products and services - both on the asset (loan) liabilities (deposits) side. The new guidelines say that the DBUs are expected to migrate to more structured and custom-made products, from standard offerings by use of their hybrid and high-quality interactive capabilities.
Each digital banking unit should be housed distinctly with separate entry and exit provisions. “They will be separate from an existing Banking Outlet with formats and designs most appropriate for digital banking users,” said the newly released guidelines.
Finance Minister Nirmala Sitharaman had announced the launch of 75 digital banking units in 75 districts in her budget speech in February this year.