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Account Aggregators to improve money management, ensure easier access to loans

Account Aggregators to improve money management, ensure easier access to loans
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AA framework offers UPI-style revolution in MSME financing


AA framework offers UPI-style revolution in MSME financing
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ETtech
Illustration: Rahul Awasthi
Private sector lenders IndusInd Bank, HDFC Bank, ICICI Bank and Axis Bank are likely to go live with the account aggregator (AA) framework by July, the chief executive of a collective of such aggregators told ET.
The AA framework is intended to improve lending to micro, small and medium enterprises (MSME), based on their business transactions.
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India’s largest public sector bank, State Bank of India, is also expected to offer services on the platform around the same time, said BG Mahesh, cofounder and chief executive of DigiSahamati Foundation. ....

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