Which public sector bank of India becomes first public sector bank to go live on Account Aggregator framework?
The account aggregator (AA) facilitates sharing of financial information in a real-time and data-blind manner between regulated entities. UPI moment for lending, the AA framework ensures swift data sharing with the consent of the user and eliminates the need for physical documents. UPI moment for lending, the AA framework ensures swift data sharing with the consent of the user and eliminates the need for physical documents. The framework facilitates sharing of financial information on a real-time basis between regulated entities. AAs are licensed by the Reserve Bank of India to enable the flow of data between Financial Information Providers (FIPs) and Financial Information Users (FIUs). IPs are institutions that hold customer data and FIUs are entities that consume data to offer better service, underwrite loans, and so on. Banks and other financial institutions must become FIPs to be able to also become users of data from other financial institutions. Union Bank of India has said that it will work both as an FIU and FIP to allow its customers to share data digitally on a real-time basis. Major private sector banks like HDFC Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank are already live as FIPs and FIUs. There are 34 banks, non-banking financial companies (NBFCs) and other institutions so far live on AA, including Federal Bank, IDFC First Bank and IndusInd Bank.
On which date did Sikkim become the 22nd state of the Indian Union and its monarchy was abolished?
Prime Minister Narendra Modi recently addressed a gathering after inaugurating and laying the foundation stone for various projects worth 4,800 crore ru...
What conditions favour the development of a heatwave?
1.Prevalence of hot dry air over a region
2.Absence of moisture in the upper atmosph...
Which one of the following is not correctly matched regarding the taxes levied during the Mauryan period?
What is the goal of the ‘Master Direction Foreign Exchange Management (Hedging of Commodity Price Risk and Freight Risk in Overseas Markets) Directi...
Who has won men’s single title at ‘2023 Swiss Open’ ?
Which of the following states will host the 38th National games?
Where will the event "Semicon India 2023" take place from 28th to 30th July 2023?
Which two countries are connected by the newly established 131.5 km long Metri pipeline for the transportation of diesel?
How much assistance is given to the nominated person in case of death in an accident of a worker registered on the e-shram portal?