STRATEGY UPDATE - DIGITAL BANKING

Vakrangee सशक्त परिवर्तन STRATEGY UPDATE - DIGITAL BANKING DIGITAL BANKING : MOVING TOWARDS NEO BANK - VAKRANGEE WELL PLACED TO ENTER THE NEO BANKING SEGMENT While currently nascent, the Indian Neobanking userbase is expected to grow fast - at 80%+ yearly till FY26 Indian digital banking userbase In Mn, FY 2017, 2021, 2026P Estimates +x% CAGR Opportunities ~45 Mn FY 2017 +35% ~150 Mn FY 2021 Indian Neobanking userbase In Mn, FY 2017, 2021, 2026P Estimates +7% 190-240 Mn FY 2026P +x% CAGR ~40-50 Mn +82% 0 FY 2017 ~2.5 Mn FY 2021 Souíce(s): India Post, Primary Research, RedSeer Estimates FY 2026P Underpenetrated Rural market: Last Mile Retail Customer Base Lack of trust within the current user base. Therefore, Physical Presence & Assistance is a Key Differentiator Diversified service offerings: BFSI Services like Demat, MFs, insurance, and lending Opportunity to tap into the MSME market 18

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