20 August, 2015
In 552nd meeting of the central board of the RBI, the governor of the RBI announced that RBI intends to create a regulatory framework for a new category of non-banking financial company (NBFC) for acting as an account aggregator, thereby allowingcustomers to access accounts with different financial institutions in a common format. The governor also noted that this idea was originated by the Financial Stability and Development Council.
For further information, please contact:
Sawant Singh, Partner, Phoenix Legal
sawant.singh@phoenixlegal.in
