Current Affairs · Financial Sector Reforms
Consider the following statements regarding the Account Aggregator (AA) framework in India: 1. It operates as a consent-based intermediary between Financial Information Providers (FIPs) and Financial Information Users (FIUs) without seeing or storing the data. 2. According to RBI guidelines, an AA is a non-banking financial company (NBFC). 3. Technical standards are defined by ReBIT (Reserve Bank Information Technology Private Limited). 4. The data transferred via AA is encrypted by the FIP and decrypted only by the FIU. 5. As of 2024, it only supports data from public sector banks. 6. It does not allow for 'Payment Initiation Services'. 7. Customers have the right to revoke their consent at any time. Which of the following statements are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2, 3, 4, 6, and 7 only✓
- 22, 3, 5, and 6 only
- 31, 4, 5, 6, and 7 only
- 4All statements are correct
Correct answer
1, 2, 3, 4, 6, and 7 only
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