Account Aggregator framework to replicate UPI's success, says Nandan Nilekani - The Economic Times
Nilekani, who headed an RBI committee on Deepening Digital Payments, said that the launch of the framework will be followed by an uptick in activity as consumers and small businesses will leverage their data to get access to financial services.
India launches Account Aggregator system to improve credit access
India launches Account Aggregator which promises to consolidate all financial data of users in one place and extend credit services to them
entrackr.com
India launched the Account Aggregator system on Thursday which promises to consolidate all financial data of users in one place and extend credit services to them based on that information rather than depend on collateral.
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This will decrease importance of cibil and can make life difficult or easy as there is possibility of even including services like postpaid mobile.
Now banks will have a formal way to get user financial history instead of scraping all information even not related to finance from users mobile.
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