The Reserve Bank of India (RBI) has included the goods and services tax network (GSTN) as a financial information provider in the account aggregator (AA) framework (FIP).
The RBI said in a press release on Wednesday (November 23) that it has integrated the GST network into the account aggregator framework to facilitate cash flow-based lending to micro, small, and medium enterprises (MSMEs). The RBI’s action is intended to facilitate cash flow-based lending to MSMEs. Six account aggregators have received licences from the RBI so far, with another nine receiving in-principle approval. SEBI, the stock exchange regulator, also joined the network earlier this month.
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The Reserve Bank of India (RBI) has included the goods and services tax network (GSTN) as a financial information provider in the account aggregator (AA) framework (FIP).
The RBI said in a press release on Wednesday (November 23) that it has integrated the GST network into the account aggregator framework to facilitate cash flow-based lending to micro, small, and medium enterprises (MSMEs). The RBI’s action is intended to facilitate cash flow-based lending to MSMEs. Six account aggregators have received licences from the RBI so far, with another nine receiving in-principle approval. SEBI, the stock exchange regulator, also joined the network earlier this month.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
