Quick Summary
Nearly 72% of financial transactions of PSBs done through digital channels Share of financial transactions undertaken through home and mobile channels increased from 29% in FY2018-19 to 76% in FY2020-21 The Government has taken a number of steps to facilitate digital banking, doorstep banking
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FAQ :
Nearly 72% of financial transactions for Public Sector Banks (PSBs) are now conducted through digital channels.
The share of financial transactions undertaken through home and mobile channels has increased significantly, rising from 29% in FY2018-19 to 76% in FY2020-21.
The government has facilitated digital banking through initiatives like contactless digital lending via PSBloansin59minutes.com, online bill discounting for MSMEs, and the 'Jeevan Pramaan' initiative for pensioners to update life certificates online.
Access to mobile and internet banking has been enhanced through an increase in the average number of services offered (43), customer-friendly features (135), and regional language customer interfaces (8).
Doorstep banking services are available through a call centre, web portal, and mobile app, offering services like cash withdrawal/deposit, cheque pick-up, and delivery of tax-related certificates.
The number of customers active on digital channels has doubled from 3.4 crore in FY2019-20 to 7.6 crore in FY2020-21.
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