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Thanks, NITI Aayog, but I would rather stay neo than become a bank

The NITI Aayog has suggested a template for digital banks and stipulated a two-stage process: first a digital business bank licence, and then a digital universal bank licence

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4 min read Last Updated : Jan 06 2022 | 4:36 PM IST

We need to find a new term for neo banks. That will be ironical, because neo means new. But it will also be apt, because a neo bank is not just a new bank, it is a new way. And not every neo bank wants to become a bank.

The NITI Aayog has suggested a template for digital banks to cater to the large unbanked and underbanked population. It stipulates a two-stage process: first a digital business bank licence and then, after incorporating the learning from the first stage, a digital universal bank licence.

The NITI Aayog roadmap to full-stack

Topics : Reserve Bank of India Niti Aayog NBFCs

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