The Consent Template CT001 finalized by the Lending Use Case Council is tailored for the underwriting of loan applications, encompassing all related product types such as credit cards and lines of credit.
Loan underwriting and Loan monitoring are two different purposes, and hence, two distinct consents should be sought for these two processes. (Code of Conduct on the same is published here)
| Consent Template Information / Attributes | Description / Upperbounds |
|---|---|
| Consent Template ID | CT001 |
| Status | Active |
| Use Case Category | Underwriting Risk |
| Use case | Underwriting a loan application |
| License types considered | Bank, NBFC, HFC, TReDs |
| Purpose Text (for customers) | To process your loan application |
| Purpose Text (as per ReBIT) | Aggregated Statement |
| Purpose Code | 103 |
| Purpose Code Category Name | Financial Reporting |
| FI Types | All RBI, SEBI and GSTN, FI Types |
| Consent Types | Profile, Summary, Transactions |
| Fetch-type | One-Time |
| Maximum Frequency | NA |
| Maximum FI Data Range | 14 months |
| Maximum Consent expiry | 1 month |
| Maximum Data Life | 1 Month |
| Last published on: | 31st May 2024 |
Please note that the parameters of the individual consent templates in the Consent Template Library represent upper bounds for the respective use cases, as decided in the relevant User Councils. The parameters in the consent templates should be treated by participant(s) as outer limit(s) and not be construed as legal advice in any manner. Participants are encouraged to review their use case(s) and ensure compliance with applicable laws, including the RBI Master Directions on NBFC-AA and the DPDP Act.
Sahamati will publish additional consent templates as the AA ecosystem evolves based on discussions in the relevant Use Case Councils and the Fair Use Committee. Existing consent templates may also be revised based on statutory and regulatory guidance, including the DPDP Act and the Rules issued thereunder.
