New Register here for RBI, SEBI & NABARD strategy workshop! April 9 at 7 PM

    Question

    With reference to the Account Aggregator (AA), consider

    the following statements: 1)    It is a Non-Banking Financial Company. 2)    It is engaged in the business of providing the service of retrieving or collecting financial information pertaining to the customer. 3)    It may include bank accounts, credit card accounts, investment accounts, and other consumer or business accounts. Which of the statements given above is/are correct?      
    A 1 only Correct Answer Incorrect Answer
    B 2 and 3 only Correct Answer Incorrect Answer
    C 1 and 3 only Correct Answer Incorrect Answer
    D 1 and 2 only Correct Answer Incorrect Answer
    E 1, 2 and 3 Correct Answer Incorrect Answer

    Solution

    Account Aggregator (AA) is a Non-Banking Financial Company (NBFC) engaged in the business of providing the service of retrieving or collecting financial information pertaining to the customer. Hence, statements 1 and 2 are correct. It may include bank accounts, credit card accounts, investment accounts, and other consumer or business accounts. Hence, statement 3 is correct.

    Practice Next