Account Aggregator (AA) network was introduced as a financial data-sharing system by Reserve Bank of India (RBI) when it issued the Master Direction viz Non-Banking Financial Company (NBFC) - Account Aggregator (Reserve Bank) Directions, dated September 02,2016.
AA’s are NBFCs engaged in the business of providing the service of retrieving or collecting financial information pertaining to the customer. No financial information of the customer is retrieved, shared or transferred by AA framework without the explicit consent of the customer. AA transfers data from one financial institution to another based on an individual's instruction and consent. Registering with an AA is fully voluntary for consumers. At present, RBI has granted Certificate of Registration to seventeen companies as AA.
Entities may enrol themselves on AA framework as Financial Information Provider (FIP) viz. bank, banking company, non-banking financial company, asset management company, depository, depository participant, insurance company, insurance repository, Central Recordkeeping Agency, Goods and Services Tax Network (GSTN), Clearing Corporation of India Limited and such other entity as may be identified by the RBI from time to time and as Financial Information User (FIU) which is an entity registered with and regulated by any financial sector regulator.
Progress Update of Account Aggregator: (as on 31.03.2026)
The AA framework has been growing in market adoption across banking, securities, insurance, and pension sectors with the following developments:
- 179 Financial Institutions have gone live as FIP.
- 989 Financial Institutions have gone live as FIU.
- More than 2.88 billion financial accounts are enabled to share data on AA.
- 284.6 million accounts have been linked by users to the AA Framework.
Source: sahamati.org.in