An Account Aggregator (AA), a RBI-regulated Non-Banking Finance Company (NBFC), helps an individual securely and digitally access and share information from one financial institution they have an account with to any other regulated financial institution in the AA network.
He also stressed that the Board's role is pivotal in establishing a robust IT and cybersecurity infrastructure and availability of requisite skills at the bank level.
Private sector lender Bandhan Bank on Tuesday said it has been appointed by Reserve Bank of India as an authorised pension disbursement bank on behalf of the Central Pension Accounting Office (CPAO) for the civil pensioners.
The review highlighted the government's proactive steps to curb food inflation, anticipating relief as fresh stock arrives to alleviate price pressures.
The Reserve Bank will launch a pilot project for 'Public Tech Platform' that seeks to facilitate credit through seamless flow of required digital information