Module: General Practice
Q99: The Account Aggregator (AA) ecosystem connects Financial Information Providers (FIPs) with Financial Information Users (FIUs). As of February 2026, which of the following entities is NOT typically considered a valid FIP in the ecosystem?
✅ Correct Answer: D
🎯 Quick Answer:
Unregulated entities cannot be FIPs.They must be Regulated Entities.
Valid FIP List (2025-2026 Context): 1. Banks/NBFCs: The core sources of savings and loan data.
2. GSTN: A critical addition that allows MSMEs to share their GST returns as official data to facilitate "Cash-flow based lending." 3. Market Intermediaries: Depositories (for Stocks/Mutual Funds), Insurance Repositories, and Pension Funds (NPS). Why D is the answer: Only entities regulated by the RBI, SEBI, IRDAI, or PFRDA can integrate as FIPs to ensure data integrity.
An unregulated P2P platform has no legal standing to inject data into this trusted network.