No plans for digital-only banks, idea came with certain risks: RBI Governor
Image Credit: BUSINESS WORLD
RBI Governor said that the central bank has no plans for digital-only banks. At the moment, there is no proposal as such because we feel existing banks and NBFCs can adopt more technology to capitalise on the opportunities which new technologies offer. At this moment, we don’t intend to set up what may be called neobanks because we feel existing architecture is sufficient to enable existing players to leverage the innovations, Das said.