**Summary:**
This Reserve Bank of India (RBI) directive, RBI/2022-23/140 DoR.FIN.REC.8203/10.123/2022-23, dated November 23, 2022, amends the Master Direction – Non-Banking Financial Company – Account Aggregator (Reserve Bank) Directions, 2016, dated September 02, 2016. The key change is the inclusion of the Goods and Services Tax Network (GSTN) as a Financial Information Provider (FIP) within the Account Aggregator (AA) framework. This inclusion aims to facilitate cash flow-based lending to Micro, Small, and Medium Enterprises (MSMEs). The Department of Revenue will regulate GSTN for this specific purpose. The Financial Information to be provided will be Goods and Services Tax (GST) Returns, specifically Form GSTR-1 and Form GSTR-3B. The relevant paragraphs of the Master Direction have been amended to reflect this change. For further information, contact J.P. Sharma, Chief General Manager, Department of Regulation, Central Office, 2nd Floor, Main Building, Shaheed Bhagat Singh Road, Fort, Mumbai – 400001, or via email at cgmicdor@rbi.org.in.
Key Entities Referenced
Reserve Bank of India: The central bank of India, the issuing authority of the notification.
Goods and Service Tax Network (GSTN): An entity included as a Financial Information Provider (FIP) under the Account Aggregator (AA) framework to facilitate cash flow-based lending to MSMEs.
Account Aggregator Framework: A framework that allows regulated entities to share financial information.
Master Direction Non-Banking Financial Company Account Aggregator Reserve Bank Directions, 2016: A set of directions issued by the Reserve Bank of India pertaining to Account Aggregators.
MSMEs: Micro, Small and Medium Enterprises, the target beneficiaries of the cash flow-based lending facilitated by the inclusion of GSTN.
Department of Revenue: The regulator of GSTN for the specific purpose of its role as a Financial Information Provider.
Goods and Services Tax (GST) Returns: Financial Information that can be shared under the Account Aggregator framework. Specifically, Form GSTR1 and Form GSTR3B are mentioned.
Mumbai, Maharashtra: Location of Central Office, Department of Regulation, Reserve Bank of India.
भारतीय �रजवर् बक�
RESERVE BANK OF INDIA
RBI/2022-23/140
DoR.FIN.REC.82/03.10.123/2022-23 November 23, 2022
To All Regulated Entities of the Bank
Madam/ Dear Sir,
Inclusion of Goods and Service Tax Network (GSTN) as a Financial Information
Provider under Account Aggregator Framework
Please refer to the Master Direction – Non-Banking Financial Company - Account
Aggregator (Reserve Bank) Directions, 2016 dated September 02, 2016.
2. With a view to facilitate cash flow-based lending to MSMEs, it has been decided to
include Goods and Services Tax Network (GSTN) as a Financial Information Provider
(FIP) under the Account Aggregator (AA) framework. Department of Revenue shall be
the regulator of GSTN for this specific purpose and Goods and Services Tax (GST)
Returns, viz. Form GSTR-1 and Form GSTR-3B, shall be the Financial Information.
3. Accordingly, the select instructions contained in the Master Direction referred to above
have been amended, as detailed in the Annex.
Yours faithfully,
(J.P. Sharma)
Chief General Manager
िविनयमन िवभाग, क�द्रीय काया�लय ,ि�तीय तल ,मु� भवन, शहीद भगत िसंह रोड ,फोट�, मुंबई -400001
Department of Regulation, Central Office, 2nd Floor, Main Building, Shaheed Bhagat Road, Fort, Mumbai-400 001
Email: cgmicdor@rbi.org.in
िह�ी आसान ह,ै इसका प्रयोग बढाइए।Annex
1. In paragraph 3(1)(ix), after clause (r), the following clause shall be inserted:
"(s) Goods and Services Tax (GST) Returns, viz., Form GSTR-1 and Form
GSTR-3B” and extant clause (s) shall be renumbered as (t);
2. In paragraph 3(1)(x), the following term shall be added at the end of the
paragraph:
“Department of Revenue, Ministry of Finance”;
3. In paragraph 3(1)(xi), the following term shall be added after the term, pension
fund:
“Goods and Services Tax Network (GSTN)”.
2