Fintech

Daily Indian Fintech & Banking Brief – 4 March 2026 NPCI is moving to roll out a fully digital KYC onboarding for UPI One World, letting travellers register via an app and upload passport scans instead of visiting a bank branch, which should widen uptake of instant payments among foreign visitors once RBI signs off and partners such as Pine Labs and Payworld update their flows. Oxyzo has launched Oxyzo Credit Fund I, a performing credit AIF managed by Oxyzo Investment Manager that will back secured growth loans to mid-sized corporates, already taking commitments from HNIs, family offices and institutions as it targets Rs 3,000 crore of capital over the next four-five years. Fino Payments Bank insists its move toward a small finance bank remains on track despite CEO Rishi Gupta’s arrest, with interim head Ketan Merchant saying the RBI stays fully updated, deposits and CASA growth stay healthy, and customer servicing is undisturbed while authorities probe GST-related concerns.

Neobanks — Digital-Only Banks: Complete 101 Guide Last updated: March 2026 What is a Neobank? Neobanks are digital-only banks that operate exclusively through mobile apps and web platforms, without physical branch infrastructure. Key Characteristics 100% digital experience No physical branches Tech-first approach Lower operational costs Instant account opening How Neobanks Work Account Opening Download app Submit documents (DigiLocker, Aadhaar) Video KYC verification Instant account activation Virtual debit card issued Services Offered Service Examples Savings Account Fi, Jupiter Current Account Razorpay, Open Loans Slice, Uni Investments Groww, INDmoney Regulatory Framework RBI-regulated (through partner banks) Partner bank responsible for deposits PPI license for wallets Compliance with KYC, AML Consumer Rights Deposit insurance (via partner bank) Transparent fee structure Data privacy protection Grievance escalation process