New Delhi, Sept. 18 -- While banks, being an essential service, remained open during the lockdown, many people became wary of visiting branches and turned to digital alternatives. "We have seen a healthy growth of around 40% in overall consumption of digital services like online fund transfers and bill payments through our mobile app," said Virat Diwanji, group president, retail liabilities and branch banking, Kotak Mahindra Bank.
While some banks already had digital account opening options available, more are joining the bandwagon. The latest one is Axis Bank Ltd, which launched its Full Power Digital Savings Account on 31 August. We take you through the basics of opening a digital savings account and what you can expect.
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