Current Affairs · Banking and Finance
Under the Account Aggregator (AA) guidelines, which of the following rules is applicable to the operations of Financial Information Users (FIUs)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Any revocation of data-sharing consent by the customer must be submitted using physical wet-ink signatures.
- 2Commercial banks are legally permitted to deny arbitrary AA-based data sharing requests initiated by verified customers.
- 3FIUs must pre-specify the precise purpose and the exact duration for which customer data is being requested and shared.✓
- 4Account Aggregators are permitted to offer customized investment advice and financial planning based on the retrieved data.
Correct answer
FIUs must pre-specify the precise purpose and the exact duration for which customer data is being requested and shared.
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