WARANGAL: The BJP government at the Centre has brought revolutionary changes in the banking sector. In the past banks were useful only for the rich but now even the poor are using them for their day to day activities, said Union minister G. Kishan Reddy.
He was participating in a video conference in Jangaon district in which Prime Minister Narendra Modi dedicated 75 digital banking units (DBUs) in 75 districts to the nation, as part of Azadi Ka Amrit Mahotsav celebrations to mark the 75 years of Independence.
Of the 75 DBUs, one unit each has been earmarked for Khammam, Rajanna Sircilla and Jangaon districts of Telangana state.
Kishan Reddy along with Jangaon MLA Muttireddy Yadagiri Reddy inaugurated a DBU at the State Bank of India (SBI), Jangaon branch and said that India would witness a digital revolution in the coming days not only in the banking sector but also in education and other sectors.
DBUs will enable customers without the wherewithal to have cost-effective, convenient access and enhanced digital experience of banking products and services. It will spread digital financial literacy along with creating cyber security awareness among customers, he added.
Digital banking helps to keep track of duplicate LPG accounts and ration card mafia.
The Centre will be handing transferring Rs 300 crore to the bank accounts of students belonging to Scheduled Castes (SCs) and Scheduled Tribes (STs) through the digital process, he said. Around one crore accounts have been opened under Jan-Dan scheme, he said.
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