What is new / existing bank option in Cflow?

What is new / existing bank option in Cflow?

1)      If the bank coming for first time in IMPS product even though already live in NFS or Rupay product, then bank should select the option as new bank when raising a request in IMPS.

2)    If the bank coming for new scope or additional scope in the same Product where it is already live, then bank should select the option as existing bank.