DIGITAL BANKS A Proposal for Licensing & Regulatory Regime for India REPORT

Summary

India faces a significant credit deepening gap, especially for MSMEs with an estimated INR 25 lakh crores deficit, despite its digital advancements in financial services. NITI Aayog proposes a new licensing and regulatory regime for full-scale Digital Banks under the Banking Regulation Act to leverage technology and address this unmet demand. This report outlines a detailed roadmap for this planned initiative, aiming to further financial inclusion and position India as a global fintech leader.

Key Facts

Source Document

https://example-government.gov/policy-document-link