by Suman Gupta
Mumbai: ICICI Bank today announced the launch of four Digital Banking Units (DBUs) to offer banking services to its customers digitally. The launch is part of the government’s plan to set up 75 DBUs in as many districts to commemorate 75 years of India’s independence. Shri Narendra Modi, Honourable Prime Minister of India inaugurated the 75 DBUs virtually today in the presence of Smt. Nirmala Sitharaman, Honourable Finance Minister and Shri Shaktikanta Das, RBI Governor. ICICI Bank has set up the DBUs at Dehradun in Uttarakhand, Karur in Tamil Nadu, Kohima in Nagaland and Puducherry.
A DBU comprises two distinct areas– a Self-service Zone and a Digital Assistance Zone. The Self-service Zone houses an ATM, a Cash Deposit Machine (CDM) and a Multi-Functional Kiosk (MFK) that offers a number of services including printing of passbook, depositing cheque and accessing internet banking. Further, it has a Digi Branch Kiosk that offers all services available on iMobile Pay, the Bank’s mobile banking app. The Zone also provides a digital interactive screen where customers can interact with a chatbot in order to find product offers and mandatory notices. The Self-service Zone is operational 24×7.
At the Digital Assistance Zone, branch officials assist customers to undertake various financial and non-financial transactions. These include opening of saving account, current account, fixed deposit and recurring deposit; availing of home loan, auto loan, personal loan and applying for credit card. These services are offered in a completely digital manner through a tablet device, using Aadhaar based eKYC. In addition, branch officials will help customers download and start using the mobile banking app as well as internet banking. The Digital Assistance Zone remains open from 9:30 am to 3.00 pm on Monday to Friday as well as, on the first, third and fifth Saturdays of the month.
Speaking on the new initiative, Mr. Rakesh Jha, Executive Director (Designate), ICICI Bank said, “We are delighted to be part of the initiative of setting up DBUs across the nation, under the aegis of RBI. They operate like digital branches where customers can undertake banking transactions digitally, at a time of their convenience. They can also seek guidance from experts on banking services at these units.
In the last few years, we have seen that the customer’s behaviour at branches has evolved. Customers are now more keen to seek advice and guidance at branches for complex transactions, loans and investments while they prefer doing simple transactions on their own through digital channels like internet and mobile banking. We have designed the DBUs to meet these evolving requirements of our customers.”
In addition to offering banking services, the DBUs will conduct Digital Literacy Programmes regularly to spread awareness around safe banking, digital banking and cyber security.
About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s total assets stood at ₹ 14,15,581 crore at June 30, 2022.: Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospect s) are forward – looking statements intended to qualify for the ‘safe harbor’ under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward – looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward – looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions; political or economic instability in the jurisdictions where we have operations, increase in non – performing loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports fi led by us with the United States Securities and Exchange Commission. Any forward looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward – looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov
