RBI will regulate the Account Aggregator (AA) through an NBFC-AA license
New RBI rules state banks should send a pre-debit notification to customers at least 24 hours before initiating auto-debit transactions.
The transition to digital and automation during the Covid-19 pandemic would boost productivity.
He noted that there would be a need to guard against any emergence of the digital divide, as digitisation gains speed after the pandemic
In FY22 market borrowings by the states were at 11% less, than FY21. Cumulatively Rs 2.92 lakh crore was raised by 25 states and Delhi.
The Deposit Insurance and Credit Guarantee Corporation (DICGC) has released the list of 21 banks; amount capped at Rs 5 lakh/deposit.
The monthly value of transaction involved jumped by 258% and volume of transaction by 135% in the past 16 months.
Along with domestic buyers, there has been a rise in non-resident Indians seeking to buy property in India, providing a further fillip to the market.
Aadhaar e-KYC Authentication is expected to boost digitisation and check frauds among NBFCs
An account aggregator is a system or entity that comes under the purview of the Reserve Bank of India