<h1>72% of Public Sector Bank Transactions Are Digital; Digital Users Double from FY2019-20 to FY2020-21.</h1> Nearly 72% of financial transactions in Public Sector Banks (PSBs) are conducted digitally, with active digital users doubling from 3.4 crore in FY2019-20 to 7.6 crore in FY2020-21. The Union Minister of State for Finance highlighted this in the Rajya Sabha, noting that the Reserve Bank of India is not considering separate digital bank licenses. Reforms include enhanced mobile and internet banking, automated digital lending, and analytics-based credit offers. Initiatives like Jeevan Pramaan for pensioners and contactless digital lending for MSMEs are also in place, alongside online bill discounting via the Trade Receivables Discounting System.