As of year 2022, State Bank of India's digital arm Yono had around ** million active users, the highest in the neo-banking sector. Instant pay followed with ** million users. Neo-banks are fintech firms that offer apps and software to offer personalized services while minimizing operating costs. Licensing depends on traditional banks and core backend operations are also managed by banks.
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Chiratae Ventures, & EY. (August 25, 2022). Leading neo-banks in India as of 2022, by number of active monthly users (in millions) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved August 01, 2026, from /statistics/1328771/india-leading-neo-banks-by-number-of-users/
Chiratae Ventures, und EY. "Leading neo-banks in India as of 2022, by number of active monthly users (in millions)." Chart. August 25, 2022. ÌÇÐÄÆƽâ°æ. Accessed August 01, 2026. /statistics/1328771/india-leading-neo-banks-by-number-of-users/
Chiratae Ventures, EY. (2022). Leading neo-banks in India as of 2022, by number of active monthly users (in millions). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: August 01, 2026. /statistics/1328771/india-leading-neo-banks-by-number-of-users/
Chiratae Ventures, and EY. "Leading Neo-banks in India as of 2022, by Number of Active Monthly Users (in Millions)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 25 Aug 2022, /statistics/1328771/india-leading-neo-banks-by-number-of-users/
Chiratae Ventures & EY, Leading neo-banks in India as of 2022, by number of active monthly users (in millions) ÌÇÐÄÆƽâ°æ, /statistics/1328771/india-leading-neo-banks-by-number-of-users/ (last visited August 01, 2026)
Leading neo-banks in India as of 2022, by number of active monthly users (in millions) [Graph], Chiratae Ventures, & EY, August 25, 2022. [Online]. Available: /statistics/1328771/india-leading-neo-banks-by-number-of-users/
