Browsing: Account Aggregator

Rahul Chari, Co-Founder and CTO at PhonePe said, “The launch of the Account Aggregator service, puts PhonePe Group at the forefront of building digital public infrastructure that will have a significant impact on millions of Indians. This will also empower users to access and control their own financial data, revolutionizing the way they engage with financial services. The Account Aggregator Network sets the stage for a new era of digital connectivity, where individuals can harness the power of their own information to make informed financial decisions and unlock a world of opportunities.”

The RBI said, with a view to facilitate cash flow-based lending to MSMEs, it has been decided to include Goods and Services Tax Network (GSTN) as a Financial Information Provider (FIP) under the Account Aggregator (AA) framework.

Union Bank of India has  become the first public sector bank to go live on the Account Aggregator ecosystem for participating in Govt. of India’s Digital Initiatives.