RBI seeks applications for a self-regulatory body for account aggregators. The SRO will oversee compliance, ensuring secure financial data-sharing. Eligible entities must apply by 15 June, with at least 25 members from financial providers and users.
India invites applications for self-regulatory body for account aggregators
India’s central bank, the Reserve Bank of India (RBI), has called for applications to recognize a self-regulatory organization (SRO) for account aggregators. These entities facilitate the secure exchange of financial data between institutions, playing a crucial role in the country’s evolving digital finance landscape.
The RBI will approve only one such body, and applications must be submitted by 15 June. Eligible applicants include entities regulated by financial sector authorities. The SRO must have at least 25 members each from financial information providers, such as banks, and financial information users, like brokerages.
The recognized organization will oversee compliance with the regulatory framework for account aggregators, ensuring transparency and security in financial data-sharing. By establishing this SRO, the RBI aims to enhance the efficiency and reliability of account aggregation services while safeguarding consumer interests.
This move aligns with India’s push towards a more structured and secure digital financial ecosystem, reinforcing trust in data-sharing mechanisms. As financial institutions prepare their applications, the formation of a self-regulatory body is expected to strengthen governance and foster innovation in India’s financial sector.
European Union countries have agreed to maintain the current three-hour threshold for flight delay compensation in the bloc’s upcoming update to air...
Japan’s birth rate and fertility levels have fallen to their lowest levels on record, highlighting the country’s worsening demographic crisis as f...
Georgia is overhauling its migration laws in one of the most significant legal reforms in years, introducing criminal penalties for fake marriages, ti...
China has expressed strong dissatisfaction over a United States decision to place several major Chinese companies on a Pentagon list of firms alleged ...
Middle East tensions remain high as the U.S. and Iran exchange strikes while signalling progress towards a possible deal. Clashes around the Strait of...
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 20th of March, covering the latest developments you need to know.
Anutin Charnvirakul has returned to power after winning a fresh mandate on Thursday following a Parliamentary vote in a country plagued by political drama and turmoil.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 18th of March, covering the latest developments you need to know.
President Donald Trump said NATO is making a “very foolish mistake” by refusing to help the U.S. as Israel Katz claimed Ali Larijani was killed in Israeli strikes.
Mexico and South Africa meet in Thursday’s World Cup opener in Mexico City, with both teams approaching the match from very different positions but facing their own pressures.
SpaceX has made history with the largest initial public offering ever in the United States, pricing its shares at $135 each and achieving a market valuation of $1.77 trillion.
SpaceX made a historic entrance into the Nasdaq on Friday, surging over 20% in its first day of trading and lifting its valuation to more than $2 trillion. Investors flocked to the world’s largest IPO, betting on Elon Musk’s sprawling empire spanning rockets, AI and beyond.
While France hosts next week’s Group of Seven summit, businesses in neighbouring Switzerland have already begun taking precautions, with many shops in Geneva boarded up ahead of a large anti-G7 demonstration expected on Sunday.
Formula 1 driver Pierre Gasly’s Monaco Grand Prix podium has been reinstated after Alpine successfully challenged his post-race penalties through a Right of Review request with the FIA.
Every June, roughly 13 million young people in China sit down at the same time to take the same test. They have been preparing for it, in many cases, since primary school. Their families have rearranged their lives around it.
Ambassadors from the European Union’s 27 member states have agreed to advance accession negotiations with Ukraine and Moldova, paving the way for the first formal phase of talks to begin on Monday.
European Union countries have agreed to maintain the current three-hour threshold for flight delay compensation in the bloc’s upcoming update to air passenger rights, preserving one of the most recognisable protections for travellers.
Georgia is overhauling its migration laws in one of the most significant legal reforms in years, introducing criminal penalties for fake marriages, tighter controls on foreign students and expanded investigative powers for the migration authorities.
China has expressed strong dissatisfaction over a United States decision to place several major Chinese companies on a Pentagon list of firms alleged to support the country’s military.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment