Good morning [%first_name |Dear Reader%],

Retirement is costly, especially since you have to plan for at least a few decades of it. But, as Anand writes in today’s Ka-Ching!, there’s a pretty simple way to make those retirement goals seem less daunting. Before we get to that, though, here’s Arundhati’s breakdown of the Reserve Bank of India’s (RBI) brand-new digital banking guidelines, and what they mean for India’s banks and fintechs.

What will it take to set up a digital bank?

The RBI has given banks and fintechs a new obsession to play with—a digital bank.

Last week, the RBI introduced Digital Banking Units (DBU), which are supposed to be built by banks and deliver on a whole gamut of banking services. While some banks and fintechs have already made moves in that direction, either through a separate digital unit like SBI YONO or by partnering neobank fintechs like Federal Bank’s tie-up with Jupiter, we now have guidelines from the regulator on how they are to be operated.

What stands out to me is that the RBI has given banks a head start before special licenses just for digital banks are introduced, and everyone makes a dash for it.