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

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