Reserve Bank of India

03.03.2016

Banking

RBI floats Draft Regulatory Framework for Account Aggregator Companies to facilitate Consolidated Viewing of Financial Assets Holdings

MANU/RPRL/0077/2016

The Reserve Bank of India released a draft of the directions Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 to put in place the regulatory framework to allow a new kind of Non-Banking Financial Company, which could act as an account aggregator. The RBI had previously issued a press released creating a separate category of NBFC called Non-Banking Financial Company - Account Aggregator to provide account aggregation services. Suggestions and comments on the draft directions are being received till March 18, 2016.

Tags : nbfc account aggregator directions

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