Is Niyo Equitas Bank Safe?

Lot of people have been recommending this. Is it safe to open account with Niyo Equitas Bank?
Not to worry, NiyoX has you covered. You can rest assured that your account is secured with insurance coverage of up to ₹5 lakh from the RBI.
NiyoX is a 2-in-1 savings and wealth management account in partnership with Equitas Small Finance Bank and VISA, designed to decode banking for millennials.