Q. With reference to Digital Banking Units (DBUs) consider the following statements:
1.It will help in providing digital financial literacy to people.
2.These units will not be able to provide loan facilities.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: A

Statement 1: Digital Banking Units digital financial literacy and special emphasis will be given to customer education on cyber security awareness and safeguards.

Statement 2: The statement is incorrect. DBUs will provide a variety of digital banking facilities to people such as the opening of savings accounts, balance-check, printing passbooks, transfer of funds, investment in fixed deposits, loan applications, etc.

Source: Times of India