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.
