Budget 2022: Digital Banking facility for all - Here's what the government plans

Union Budget 2022: Finance Minister Nirmala Sitharaman in her Union Budget 2022 speech said that 75 digital banking units will be set up across 75 districts in the country. To mark 75 years of independence, these 75 digital banking units in 75 districts will be set up by scheduled banks. She emphasised the need to take digital banking to every citizen. 

"With the aim to take digital banking to every citizen, 75 digital banking units in 75 districts of the country will be launched," said the Finance Minister. She also announced that 100% of the post offices will come under core banking system that will allow online transfer between post offices and bank accounts.

Nirmala Sitharaman said that digital payments have grown at a rapid pace and its benefits should reach every nook and corner. "There will also be a focus to promote use of payment platforms that are economical and user friendly," she said.

The Finance Minister also said that over 25,000 compliances have been reduced. Ease of doing business 2.0 will be launched this fiscal. This phase will be guided by states and digitisation of services.

Besides, India will launch sovereign green bonds. The funds will be used for projects to help reduce carbon footprint of the economy. The sovereign green bonds will be part of the government's borrowing programme in FY23. The proceeds will be deployed in public sector projects.