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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.
Sonia goes to a clothing store with a certain amount of money. She can buy 90 shirts or 30 trousers with the money she has. However, she decides to save...
A girl spent 15% of her monthly income on clothing. Of the remaining, she spent on travel and food in the ratio of 5:3. If the difference of the income ...
A car's value decreases by 20% every year. If the car was purchased for Rs 3,30,000, what will be the total percentage decrease in its value over a 3-ye...
A person saves 25% of his monthly income. If his monthly is increased by 35% and he still saves the same amount as before then find percentage increase ...
The income of Tina is Rs.20000 and she saves 25% of her income. The savings of Kajal is Rs.1200 more than that of Tina and she spends 50% of her income....
A spent 30% and 20% of his monthly salary on food and rent, respectively. Of the remaining amount, he gave 21% and 14% to his mother and brother, respec...
The price of wheat has increased by 45%. Mohit has decided to spend only 16% more than what he initially did on buying wheat. What is the percentage dec...
The income of Tina is Rs.24000 and she saves 15% of her income. The savings of Kajal is Rs.2000 more than that of Tina and she spends 60% of her income....
The respective ratio of monthly income of A to monthly income of B is 11:12, and A’s saving is (100/17)% more than B’s saving. Find the expenditure ...
The monthly income of Vivek and Sohan together is Rs. 46000. The income of Vivek and Sohan is increased by 20% and 30% respectively. The new income of ...
