The seamless integration of the Goods and Services Tax Network (GSTN) into the Account Aggregators (AA) ecosystem as a Financial Information Provider (FIP) marks a significant development. This integration enables taxpayers to access a holistic view of their financial data through the comprehensive services offered by Account Aggregators. The framework not only benefits taxpayers but also extends advantages to financial institutions and the broader financial ecosystem as a whole.
Key advantages include:
- Enhanced financial Inclusion
- Stimulated innovation & fintech growth
- Improved privacy & control for users
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