The moat banks have today is that it is very very tough to become a bank. Yeah, you can be a Small Finance Bank, Payments Bank, Neo Bank, but you can never compete with a full-fledged bank due to all the restrictions...
If financial services businesses are allowed to mis-sell greed & easy + guaranteed returns from risky financial products, it not only harms consumers but it creates a systemic risk...
Unlike the previous bull runs, most of the new investors starting especially because of IPOs this time are under 30 years. The good thing is that they are younger and have less to invest...
If startups IPO, & create wealth for Indian retail investors in long run, that will be beautiful. For this, I guess the growth has to be sustainable...