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RBI appoints Sahamati as self-regulatory body for Account Aggregator ecosystem
Sahamati will act as a self-regulatory institution

RBI appoints Sahamati as self-regulatory body for Account Aggregator ecosystem

Jun 06, 2026
02:22 pm

What's the story

The Reserve Bank of India (RBI) has appointed Sahamati as the Self-Regulatory Organisation (SRO) for India's Account Aggregator (AA) ecosystem. This designation marks a major step in establishing a formal industry-led governance mechanism for consent-based financial data sharing. As an industry alliance and coordination body, Sahamati will now act as a self-regulatory institution to set operational and technical standards, promote interoperability, and resolve disputes among participants in this framework.

Data sharing

AA framework and DEPA

The Account Aggregator framework is a key component of India's Data Empowerment and Protection Architecture (DEPA). It allows individuals and businesses to share their financial data with consent across regulated entities. The system is being implemented in the banking, insurance, securities, and pension sectors under the supervision of regulators such as the RBI, SEBI, IRDAI, and PFRDA.

Ecosystem growth

AA ecosystem in India

Sahamati, a not-for-profit entity, powers the RBI-regulated NBFC-AA network that enables consent-based financial data sharing between Financial Information Providers (FIPs) and Financial Information Users (FIUs). The data is used for credit underwriting, loan collections, customer assessment, and fraud checks. The AA ecosystem has over 1,120 regulated financial entities, including 176 FIPs and 1,020 FIUs.

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SRO duties

Sahamati's role as SRO

As the SRO for the AA ecosystem, Sahamati will be responsible for developing operational and technical standards, facilitating dispute resolution, supporting interoperability, and coordinating engagement among ecosystem participants. The organization will also be expected to coordinate ecosystem-wide standards and strengthen compliance practices across participants as the AA system scales further.

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Future outlook

Statements from Sahamati officials

R Gandhi, Chairman of Sahamati and former Deputy Governor of RBI, said the recognition will strengthen institutional mechanisms for maintaining standards and accountability as financial data sharing expands. B G Mahesh, CEO of Sahamati, said the move highlights the need for structured governance as digital financial systems become more interconnected across sectors. The development comes as the Account Aggregator framework continues to expand its adoption in financial services.

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