Neobanks in India examines the rapid growth of digital-first banking platforms and their potential impact on the country’s financial services landscape. The report highlights the rise of neobanks, driven by strong investor interest, technology-driven business models, and the ability to serve underserved customer segments such as MSMEs, gig workers, millennials, and travelers. Key advantages include lower operating costs, automated services, seamless digital experiences, and the absence of minimum balance requirements. However, neobanks face significant challenges, including regulatory constraints, trust-building with customers, limited revenue opportunities, and low barriers to entry. Rather than completely disrupting traditional banks, the report suggests that neobanks are more likely to

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