Question

Which public sector bank became the first bank to go live on the Account Aggregator (AA) ecosystem?

A Union Bank of India Correct Answer Incorrect Answer
B Bank of Maharashtra Correct Answer Incorrect Answer
C Central Bank of India Correct Answer Incorrect Answer
D State Bank of India Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

UBI became the first public sector bank to go live on the Account Aggregator (AA) ecosystem. The framework facilitates sharing of financial information on a real-time basis between regulated entities. Account Aggregator (AA) are licensed by the RBI to enable the flow of data between Financial Information Providers (FIPs) and Financial Information Users (FIUs).

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