India since the demonetization in 2016 has seen a surge in digital banking transactions and has given birth to many fintech startups such as Paytm, BharatPe, etc that become a unicorn in a short time. This has given strength to India’s journey towards 100% financial inclusion and penetrated deep across the country as provides easy banking solutions at their fingertips.

But the digital banking experience is way different in Urban, rural, and remotest India due to infrastructure constraints and exposure to financial literacy. Here comes the Digital Banking Units (DBU), a banking setup with minimum infrastructure and maximum service guarantees such as money transfer, loan facilities, etc to make financial transactions easy for the common man living in small-town areas and villages.

It is providing a cost-effective and convenient access point to banking products and services 24*7 throughout the year set up by a scheduled commercial bank. These units are available in self-service mode and provide a safe digital transaction experience with minimum financial literacy. The assistance will help them to get necessary exposure to these services along with the awareness education related to cyber security frauds and their related safeguards.

The real-time assistance and customer grievance handling facilities on these DBUs provide the best experience to the common man and involve them to make maximum use of these facilities for better financial management. These units work as per the guidelines issued by the Reserve Bank of India (RBI) in April 2022 and provide customer support directly or through corresponding business facilities or executives.  

As per the data of the National Crime Records Bureau, India is seeing a 6% rise in cybercrime cases in 2021 and reported more than 50,000 such incidents across the country. The major incidents of such cases have been recorded in Delhi, Telangana, etc due to the lack of awareness and pose a significant threat to the financial security of the Indian masses.

So increasing financial literacy among the general masses and providing assisted digital banking facilities around their local area will help them to counter the threats of cyber security effectively. It will also enhance their capabilities of making convenient and secure digital transactions and become part of India’s digital banking revolution.