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Digital Banks | Let a 100 flowers bloom, let a 100 banks contend

Digital-only banks could help in lowering cost of credit and widen credit access 

December 02, 2021 / 01:50 PM IST
Digital Banks | Let a 100 flowers bloom, let a 100 banks contend

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The Niti Aayog has floated a discussion paper proposing digital-only banks. It says such banks can bridge the credit gap faced by micro, small and medium businesses (MSMEs) by using technology to lower costs and assess credit risk better. The think tank further recommended that the central bank give restricted licences for such entities, who then operate in a sandbox, before evolving to full-fledged digital-only banks, which have no regulatory arbitrage with regular lenders. The idea has its merits. Digitisation...

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