capital for a restricted digital business bank operating in a regulatory sandbox may be proportionate to its status as restrictedwhile the rbi is the final arbiter of what numerical value constitutes proportionate the paper has proposed a ladder for minimum paidup capital by way of illustrationas per the illustration upon progression from the sandbox into the final stage a fullstack digital business bank will be required to bring in rs 200 crore equivalent to that required of the small finance bank it suggestedthe paper said estimates indicate that dbs have high cost efficiencyit also noted that the prevalent neobank business model in india is a function of regulatory vacuumin the absence of a licensing regime for fullstack digital banks fintechs offering the neobank proposition in india have improvised and adopted the frontend neobanks model it saidniti aayog ceo amitabh kant in his foreword said this discussion paper examines the global scenario and based on the same recommends a new segment of regulated entities fullstack digital banksbased on the comments received the paper will be finalized and shared as a policy recommendation from niti aayog he saidwhile india has made rapid strides towards enabling financial inclusion credit penetration remains a public policy challenge especially for the nations 63 million odd msmes