Sahamati Expects Loan Disbursements Under Account Aggregator Framework To Touch Rs 74,500 Crore
The account aggregator ecosystem is witnessing significant penetration in the lending sector, with an estimated 10.52% of personal loans across the sector in April-September being facilitated via AA.
After facilitating loan disbursements of Rs 46,200 crore under the account aggregator framework in April-September, Sahamati expects to have facilitated Rs 74,500 crore in loan disbursements, a press release said.
Sahamati is the industry alliance of the account aggregator ecosystem in India.
Since its inception in September 2021, the AA framework has facilitated Rs 88,700 crore in loan disbursements and Sahamati expects this number to go up to Rs 1.33 lakh crore.
According to self-reported data, 54 lakh loans were facilitated in Apr-Sep, contributing to a cumulative total of 97 lakh loans facilitated since the ecosystem's launch, the press release said.
The average loan ticket size was Rs 84,507 as against Rs 92,086 since September 2021, reflecting a slight decrease in loan size over time.
The AA ecosystem is witnessing significant penetration in the lending sector, with an estimated 10.52% of personal loans across the sector in April-September being facilitated via AA.
Similarly, MSME lending penetration is estimated to have crossed 1.14% and motor loans to 1.50%.
In September 2016, the RBI introduced the account aggregator framework, which facilitates the secure and seamless exchange of specified financial information through non-bank lenders and account aggregators and acts as an intermediary between financial information providers and financial information users.
On Wednesday, the Reserve Bank of India had released a framework for recognising self-regulatory organisations in the account aggregator ecosystem. The new framework says that SROs for AAs should be set up as a not-for-profit company with a minimum net worth of Rs 2 crore within one year after recognition by RBI.
