MUMBAI, Dec 10: SBI managing director Ashwini Kumar Tewari on Wednesday expressed concerns over Account Aggregator’s mechanism of obtaining a single consent from customers for all financial services products. Speaking at an event here, Tiwari argued that most customers do not read the fine print and often sign up without understanding the details. An Account Aggregator (AA) is a Reserve Bank of India (RBI) regulated entity that acts as a consent-based data intermediary. The Account Aggregator framework was introduced by the Reserve Bank of India (RBI) to enable the easy sharing of data between financial institutions for quicker decision-making. There are as many as 225 million users on AA at present. A single consent from the customer is used across all financial services produc
SBI MD flags concerns on Account Aggregator’s single consent mechanism
Daily Excelsior2 hrs ago
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