Description

In India, NBFC Account Aggregators (AA) play a crucial role in financial inclusion by facilitating seamless access to financial information across various institutions. Regulated by the Reserve Bank of India (RBI), these entities adhere to stringent guidelines ensuring data security and privacy. They act as intermediaries, consolidating financial data from multiple sources with user consent. This regulatory framework aims to foster transparency and trust while promoting innovation in digital financial services, contributing significantly to India’s evolving financial ecosystem.