CBIC notified “Public Tech Platform for Frictionless Credit” for Enhanced Credit Ecosystem Sharing

The CBIC vide Notification No. 06/2024 –Central Tax dated February 22, 2024, notified the “Public Tech Platform for Frictionless Credit” as a system for sharing information through the common portal with consent. This platform, conceived by the Reserve Bank of India and developed by its subsidiary, Reserve Bank Innovation Hub, aims to foster a large credit ecosystem. It enables digital access to information from various data sources for financial service providers and data service providers through an open, enterprise-grade IT platform with a standard, protocol-driven, open and shared API framework.

In exercise of the powers conferred by section 158A of the Central Goods and Services Tax Act, 2017 (12 of 2017) and section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on the recommendations of the Council, hereby notifies “Public Tech Platform for Frictionless Credit” as the system with which information may be shared by the common portal based on consent under sub-section (2) of Section 158A of the Central Goods and Services Tax Act, 2017 (12 of 2017).

Source : #CBIC- #GST