Account Aggregator (AA) framework emerging as a cornerstone of India’s Digital Public Infrastructure
Sahamati, the industry alliance driving the Account Aggregator (AA) ecosystem, is celebrating one of India’s fastest-growing Digital Public Infrastructures (DPIs), which is cross-sectoral and ushered in an era of Open finance in the country. While the Reserve Bank of India issued the AA Master Directions on 2nd September 2016, the framework was formally launched on 2nd September 2021 under the leadership of Shri Rajeshwar Rao, Deputy Governor. Marking the 4th anniversary of AA going live, Sahamati recognises September 2 as AA Foundation Day, commemorating the milestone that set India’s consent-based data empowerment in motion.
Since its launch in September 2021, the AA framework has grown from a bold vision into a global benchmark for consent-based financial data sharing. The AA ecosystem is rapidly transforming the way financial services are delivered across sectors, with use cases emerging throughout the product lifecycle. Looking ahead, this infrastructure will not only deepen inclusion and accessibility but also foster innovation and resilience in the financial sector.
Scale of Growth in Four Years:
780+ financial institutions live, including banks, NBFCs, insurers, mutual funds, pension funds, stockbrokers and wealth managers.
2.12+ billion accounts enabled for consent-driven data sharing.
16 licensed Account Aggregators are operational.
269+ million customer consents fulfilled.
₹1.6 lakh crore in estimated loan disbursement powered by AA in 2025 alone.
Around 4-5 crore customers are estimated to have availed a financial service (loan, insurance, PFM, portfolio management) using the AA Framework.
Loan approval timelines have been cut from weeks to under 48 hours for many MSMEs.
Lenders have reported a significant increase in lending to new-to-credit customer segments
The ecosystem empowers users to leverage their data for faster access to financial services on better terms. For individuals, this translates into instant credit, tailored protection, and more relevant financial advice. For MSMEs, long excluded from formal finance, transaction data now serves as collateral, unlocking affordable working capital.
For financial institutions, standardized API-driven flows enhance underwriting, reduce fraud, and lower costs.
AA now stands alongside Aadhaar and UPI as a pillar of India’s DPI stack. Just as UPI transformed payments, AA is transforming data access, citizen-first, scalable, and built on trust.
BG Mahesh, CEO, Sahamati, said, “Four years ago, the Account Aggregator framework was just taking its first steps. Today, it is emerging as a cornerstone of India’s digital public infrastructure, enabling millions to access credit and financial services with consent, trust, and transparency. This anniversary is both a celebration and a reminder of the vast opportunities ahead.”
As India accelerates toward financial inclusion at scale, Sahamati and its AA ecosystem participants are focused on unlocking the next phase of growth for AA, expanding use cases beyond credit, deepening adoption across sectors, and strengthening global leadership in open finance. The journey of AA over the past four years is only the beginning; its potential to redefine how citizens and businesses securely access and share data will shape the future of India’s digital economy and beyond.