India's central bank issues guidelines for digital banking units

MUMBAI, April 7 (Xinhua) -- India's central bank on Thursday released guidelines permitting scheduled commercial lenders with past digital banking experience to open digital banking units (DBU) in Tier 1-6 cities without the need to take permission.

The guidelines followed an announcement made by Indian finance minister in the federal budget speech in February to set up 75 DBUs in 75 districts of the country to commemorate 75 years of India's independence this year.