Niti Aayog bats for full-stack digital banks
The Hindu
Digital banks will be subject to prudential and liquidity norms at par with the incumbent commercial banks, Niti Aayog said in a discussion paper
Government think-tank Niti Aayog on Wednesday proposed setting up of full-stack ‘digital banks’, which would principally rely on the Internet and other proximate channels to offer their services and not physical branches, to mitigate the financial deepening challenges being faced in the country.
“In other words, these entities will issue deposits, make loans and offer the full suite of services that the Banking Regulation Act empowers them to. As the name suggests, however, DBs will principally rely on the Internet and other proximate channels to offer their services,” it said in a discussion paper.
However, the paper said as a natural corollary to being a bank in full sense of its legal definition, it is proposed that DBs will be subject to prudential and liquidity norms at par with the incumbent commercial banks.
According to BACL, the biophilic-inspired business park will offer smart workspaces within a vibrant public realm. The project’s most exceptional and breathtaking attribute lies in the Urban Forest, a lush oasis in the centre of the development. This green space will serve as a focal point, seamlessly blending indoor and outdoor spaces throughout the area. The upcoming metro station in Airport City will provide seamless connectivity to the business park from the northern side, ensuring convenient accessibility.