Question
Recently Reserve Bank of India gave approval to which of
the following Fintech firm to operate as NBFC account aggregator?Solution
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. The account aggregator license will allow them to participate in the transformational changes that are taking place in the financial sector. Small and medium-sized businesses will get better credit facilities whilst banks and other financial institutions will get an opportunity to widen their lending portfolio. RBI Headquarters: Mumbai Governor: Shaktikanta Das Deputy Governors: MK Jain, MD Patra, M Rajeshwar Rao and T. Rabi Sankar Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 and engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business. Account Aggregator Framework: It is a framework for data sharing between financial institutions like banks, pension funds, insurance companies and assets management companies. Under this, account aggregators (AAs) use technology for simple and secure exchange of the data between the institutions. With AAs, financial data can be used to access a vast array of financial services for your personal or business needs.
- An exam consists of two subjects: Computer and General Knowledge. Anita got 87 marks out of 95 in Computer and 72 out of 80 in General Knowledge. What is h...
Income of A is 55% of the Income of B and A together. The saving of B is 45% of his Income and equals to Rs. 8100. Find the difference between the incom...
In an election with only two candidates, 15% of the eligible voters did not cast their votes. Out of the total votes cast, 105 votes were declared inval...
A number is first increased by 25% and then decreased by 25%. If the net change in the number is 187.5, then find the original number.
In a two digit positive number, the digit in the unit’s place is equal to the square of the digit in ten’s place, and the difference between...
A man spent 20% of his income in May. If his savings is increased by 20% in June and becomes Rs. 11520, then find the income of man in May.
The marks obtained by X is 40% more than Y, and the marks obtained by Z is 80 more than the difference of the marks obtained by X and Y. If Z obtained 2...
- Out of a city's population, 30% are not eligible to vote. Of those who are eligible, 50% are females. If 2/5 of the eligible males and 3/10 of the eligible...
In an election between two candidates, winner got 40% of total valid votes. If total number of votes cast were 1000 out of which 6% were invalid, then f...
- During a club election between members 'X' and 'Y', 10% of all votes were invalid. If 'X' got 52% of the valid votes and 'Y' secured 21,168 valid votes, de...
Relevant for Exams:
