Updated for 2026 Syllabus Detailed Explanations High-Yield Core Concepts

Bank Promotion Exam Guide

Banking Awareness | Banking Knowledge | for all Bank Exams

Home » SBI CBO BANKING KNOWLEDGE –… » General Practice
Module: General Practice

Q97: The Account Aggregator (AA) framework is designed around the principle of being "Data Blind." What does this specifically mean for the AA entity (NBFC-AA)?

A
The AA cannot see the identity of the borrower requesting the loan.
B
The AA transfers encrypted data from the Financial Information Provider (FIP) to the Financial Information User (FIU) without decrypting or storing the data itself.
C
The AA blindly approves all data requests without requiring user consent to speed up processing.
D
The AA does not charge any fees for data transmission.
✅ Correct Answer: B
🎯 Quick Answer:
"Data Blind" means the AA acts as a pipe that transports data but cannot read it.
Concept Definition: Account Aggregators (NBFC-AA) serve as "Consent Managers." Operational Mechanism: 1. Encryption: Data is end-to-end encrypted.
It flows from the Source (FIP, e.g., Bank A) through the AA to the Consumer (FIU, e.g., Lender B). 2. The "Blind" Rule: The AA has no visibility into the actual account balance or transaction details inside the encrypted packet.
It only sees the metadata (who sent it, who needs it, and the validity of the consent). 3. Storage: AAs are strictly prohibited from storing customer financial data.
← Previous (Q96) Regarding the "Offline Functionality" of the ... Next (Q98) → In the context of the "Programmability" pilot... 📚 Back to General Practice

🔄 More from General Practice: