The Reserve Bank of India has approved NSDL e-Governance as an Account Aggregator.
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Highlights:
♦ The NSDL e-Governance Infrastructure is a provider of IT-enabled services.
♦ It received RBI’s in-principle clearance to start an account aggregator business through NSDL e-Governance Account Aggregator Ltd, a fully owned subsidiary.
♦ Account Aggregator (AA) model The Account Aggregator (AA) model, with its unique architecture for consent-based data exchange, has the potential to alter the way financial services are delivered.
♦ It’s a financial data-sharing system that has the potential to transform investing and lending.
♦ The Account Aggregator is a key component in enabling data democracy. It’s a first-of-its-kind permission system designed to give people control over their data.
