RBI approves Cygnet to operate as NBFC account aggregator : Fintech firm, Cygnet has received in-principle approval from the Reserve Bank of India (RBI) to operate as a non-banking financial company (NBFC) account aggregator.
October 2022 Current Affairs Quiz
Account Aggregator: It is an open financing data-sharing protocols, regulated by the RBI.
It allows consumers to instantly share their financial data with various financial institutions. It also facilitates financial institutions to quick access consumers’ consent-based financial data.
