SEBI to join account aggregator framework in India

Tuesday 3 May 2022 13:22 CET | News

India-based market regulator the Securities and Exchange Board of India (SEBI) has planned to join the account aggregator (AA) framework, according to


SEBI joining the framework will give an impetus to the Reserve Bank of India-regulated financial data sharing system, as it will allow customers to share information for their mutual fund and stock portfolios with financial service providers such as wealth managers, robo advisors, brokers, and lenders.

NSDL, CDSL, CAMS, and KFintech will reportedly be key data providers for the account aggregator ecosystem. Touted as the UPI moment for lending, the AA framework ensures quick data sharing with the consent of the user and eliminates the need for physical documents. Until now, only individual current and savings accounts were linked to the framework. 

The next step for the ecosystem is to grow the number of financial information providers (FIPs) and get more banks to go live, mainly the State Bank of India (SBI), which has the largest share of accounts in India.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: data aggregation, Open Banking, RBI, financial data
Categories: Banking & Fintech
Companies: SEBI
Countries: India
This article is part of category

Banking & Fintech


Discover all the Company news on SEBI and other articles related to SEBI in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events