SBM Bank License Cancelled?

Hello,

Recently i checked my credit score through Niyo Global App and saw there is written

SBM Bank (Mauritius)
Ltd - LICENSE
CANCELLED

Can the Niyo team give clarity on this ??

Is the money in our sbm savings account and fd safe ?

Thank you.

Hey @Anu1011

We understand your concern. Kindly allow us some time to thoroughly review this with the concerned team and assist you with complete clarity.

Rest assured, your funds are safe. Please be informed that in Niyo Up to ₹5L per bank per user is insured by Deposit Insurance and Credit Guarantee Corporation (DICGC, a wholly owned subsidiary of the RBI)