Any idea how is Fi doing right now? What is the work culture like? Are there any expected layoffs?

They got hit due to recent RBI restrictions..

Essentially neo banks are not allowed to do any form of lending, mutual fund selling, credit card issuance etc, on their own... They can only be resellers or channel partners to an existing bank, federal bank incase of Fi money. Being a reseller can only make you limited amount of money, the prize is in being able to lend/sell etc, which players like Cred, paytm, Navi are placing their bets on. That is where the real money earning potential is.. And neo banks can't do that

So there is a good chance that they will end up being great UI platforms for the underlying banks data and will be good for customers, but no real money making. Also neo banks are offering higher interest rates, over and above the rate offered by the underlying bank, I imagine they are able to do this due to fund raising, but it is not sustainable. Also how much banks would like to share data with such players is also to be seen.