**Summary:**
Launched on September 2, 2021, the Account Aggregator (AA) framework establishes a secure, consent-based system for financial data sharing in India. Rooted in the Reserve Bank of India's 2016 Master Directions, the AA ecosystem enables users to aggregate financial information (bank accounts, investments, loans, etc.) from multiple sources and share it with service providers (lenders, wealth managers) for services like loan applications or financial planning. AAs function as intermediaries, ensuring data privacy and user control through encrypted, permission-driven data sharing.
As of September 2, 2025, the AA ecosystem includes 112 Financial Institutions live as both Financial Information Providers (FIP) and Financial Information Users (FIU), 56 live solely as FIP, and 410 as FIU. Over 2.2 billion financial accounts are enabled for secure data sharing, with 112.34 million users having linked their accounts.
The AA framework was recognized as a foundational Digital Public Infrastructure (DPI) during India's G20 Presidency in 2023, serving as the data exchange layer, complementing Aadhaar and UPI. Its role is acknowledged in G20 documents, including the "Policy Recommendations for Advancing Financial Inclusion and Productivity Gains through Digital Public Infrastructure 2023" and the "Report of India’s G20 Task Force on Digital Public Infrastructure July 2024". The AA ecosystem is expected to improve formal credit access, particularly for MSMEs and personal lending.
Relevant links include:
RBI Master Directions 2016: https://www.rbi.org.in/scripts/BSViewMasDirections.aspx?id=10598
Ecosystem Reach Participants (October 2024): https://financialservices.gov.in/beta/en/account-aggregator-framework
NBKMN Release ID: 2162953
Key Entities Referenced
Account Aggregator Ecosystem: A framework for secure, consent-based financial data sharing.
Digital Public Infrastructure: India's digital infrastructure, including identity (Aadhaar) and payments (UPI) layers, complemented by the Account Aggregator framework for data exchange.
Financial Information Providers: Entities that provide financial information within the Account Aggregator ecosystem.
Financial Information Users: Entities that utilize financial information shared through the Account Aggregator ecosystem.
Reserve Bank of India: The central bank of India, which issued the Master Directions for the Account Aggregator ecosystem in 2016.
G20 India Presidency 2023: India's presidency of the G20 in 2023, during which the Account Aggregator framework was recognized as a foundational Digital Public Infrastructure.
Aadhaar: India's national identification system.
UPI: Unified Payments Interface, a real-time payment system in India.
Ministry of Finance
Celebrating four years of launch of the Account
Aggregator Ecosystem - India’s Digital Public
Infrastructure (DPI)
112 Financial Institutions are live both as Financial
Information Providers (FIP) and Financial Information
Users (FIU), while 56 are live solely as FIP, and 410
as FIU
Over 2.2 billion financial accounts are now enabled
for secure, consent-based data-sharing through the
AA framework, with 112.34 million users having
already linked their accounts
Posted On: 02 SEP 2025 9:14AM by PIB Delhi
The Account Aggregator (AA) framework was officially launched on September 2, 2021, establishing a
secure, consent-based system for financial data sharing. In 2016, the Reserve Bank of India issued the
Master Directions for the Account Aggregator (AA) ecosystem.The AA Framework, allows users to aggregate their financial information (like bank accounts,
investments, loans, etc.) from multiple sources and share it with service providers (e.g., lenders,
wealth managers) for services like loan applications or financial planning. AAs act as intermediaries,
ensuring data privacy and user control through encrypted, permission-driven data sharing.
During G20 India Presidency in 2023, AA was recognised as a foundational Digital Public
Infrastructure (DPI) serving as the data exchange layer, complementing the identity (Aadhaar) and
payments (UPI) layers. The role and impact of AA have been acknowledged in key G20 documents,
including the “Policy Recommendations for Advancing Financial Inclusion and Productivity Gains
through Digital Public Infrastructure” (2023). Its significance is also detailed in the “Report of India’s
G20 Task Force on Digital Public Infrastructure” (July 2024)".
Since then, the ecosystem has grown rapidly and is witnessing accelerated adoption across
banking, securities, insurance and pension sectors, strengthening India’s DPI. As on date, 112
Financial Institutions have gone live both as Financial Information Providers (FIP) and Financial
Information Users (FIU), while 56 have gone live solely as FIP and 410 as FIU. Over 2.2 billion
financial accounts are now enabled for secure, consent-based data sharing through the AA
framework, with 112.34 million users having already linked their accounts, underscoring the
growing scale and trust in this transformative initiative.
The AA ecosystem is poised to unlock new frontiers in formal credit access, especially for MSMEs
and personal lending, contributing meaningfully to India’s journey towards Viksit Bharat @2047.
Launch & Timeline: RBI Master Directions (2016):
https://www.rbi.org.in/scripts/BS_ViewMasDirections.aspx?id=10598
Ecosystem Reach & Participants: Accounts, FIU and FIP (October 2024):
https://financialservices.gov.in/beta/en/account-aggregator-framework
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NB/KMN(Release ID: 2162953)