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The Reserve Bank of India (RBI) on Thursday laid down norms to allow commercial banks to open digital banking units (DBU) while mandating minimum products and services that must be offered in these units. The Union Budget of 2022-23 had announced the setting up of 75 Digital Banking Units (DBUs) in 75 districts to commemorate the 75 years of independence of our country.
To start with, all scheduled commercial banks with past digital banking experience are allowed to open such units except for regional rural banks, local area banks and payments bank, without prior approval of the RBI in tier-1 to
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