- Sahamati Foundation approved as self-regulator for the account aggregator ecosystem by RBI
- RBI received and examined Sahamati's application under the SRO framework dated March 12, 2025
- Sahamati Foundation recognized as the SRO for the Account Aggregator Ecosystem by RBI
The Reserve Bank of India approved on Friday Sahamati Foundation's candidature to become the account aggregator ecosystem's self-regulator organisation, according to a statement.
"An application seeking recognition as an SRO-AA by the Reserve Bank was received from Sahamati Foundation," the RBI said. "The application was examined against the relevant requirements as prescribed under the 'Framework for recognising Self-Regulatory Organisations (SROs) for the Account Aggregator Ecosystem' dated March 12, 2025."
"Based on the examination, it has been decided to recognise Sahamati Foundation as an SRO for the Account Aggregator Ecosystem," it added.
AAs acts as a digital platform to share financial data between institutions like banks and other financial service providers. It operates solely on explicit customer consent and does not store customer data.
Currently, there are 17 AAs recognised by the RBI in India.
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