MUMBAI, India, March 12 -- Reserve Bank of India issued the following press release:
Reserve Bank of India had introduced the Account Aggregator (AA) framework in September 2016. The AA framework facilitates secure and seamless exchange of specified financial information through Non-Banking Financial Company-Account Aggregators (NBFC-AAs), which act as intermediaries between Financial Information Providers (FIPs) and Financial Information Users (FI-Us). These FIPs and FI-Us fall under the purview of different Financial Sector Regulators (FSRs), i.e., Reserve Bank of India, Securities and Exchange Board of India, Insurance Regulatory and Development Authority of India, Pension Fund Regulatory and Development Authority of India. Further, Dep...