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Digital Banks
July 26 , 2022
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- NITI Aayog has released a Report titled 'Digital Banks: A Proposal for Licensing & Regulatory Regime for India'.
- It suggested setting up Digital Banks and a licensing and regulatory framework for such Banks.
- India has made rapid strides in furthering Financial Inclusion, catalysed by the Pradhan Mantri Jan Dhan Yojana and India Stack.
- But credit penetration remains a policy challenge, especially for the nation’s 63-million-odd MSME (Micro, Small and Medium Enterprises).
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