Q. With reference to Account Aggregator (AA) framework, consider the following statements:
1. An Account Aggregator will be a new class of Non-Banking Finance Company approved by RBI.
2. It will allow lenders to conduct a speedy assessment of the creditworthiness of the borrower.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: C
Notes:

Both statements are correct. 

  • An AA is a new class of NBFC approved by the Reserve Bank of India (RBI) to manage consent for financial data sharing of users. It will allow lenders to conduct an easy and speedy assessment of the creditworthiness of the borrower. 

Source: Article 

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