MSME loan processing to be completely digitized through DBUs: RBI Governor

Mumbai, Nov 21 (KNN) Governor Shaktikanta Das said the recently launched digital banking units (DBUs) will provide end-to-end digital processing of small ticket retail and MSME loans.

It will be completely digitised starting from online applications to disbursals, said the central bank’s governor.

He said DBUs will also provide services related to certain identified government-sponsored schemes, as per RBI’s November bulletin published last week. 

Last month Prime Minister Narendra Modi had launched 75 DBUs across 75 districts in India. 

It aims for further financial inclusion and enhance the banking experience for people. 

In his address at the FICCI’s banking conference FIBAC 2022 earlier this month Das said the central bank hopes to launch digitised KCC and SME loans sometime during the calendar year 2023. (KNN Bureau)