#AccountAggregator #DigitalIndia #FinancialInclusion #DataEmpowerment #DPILayer #UPI #Aadhaar #DigitalPublicInfrastructure #FinTechIndia #ViksitBharat2047 #ConsentBasedDataSharing
New Delhi: India today marked four years since the launch of the Account Aggregator (AA) framework, a cornerstone of the nation’s Digital Public Infrastructure (DPI). Since its official rollout on September 2, 2021, the AA system has emerged as a secure, consent-driven data-sharing framework, empowering millions of individuals and businesses to access and share their financial data seamlessly.
According to data released by the Press Information Bureau (PIB), the AA ecosystem has witnessed exponential growth, with 112 financial institutions live as both Financial Information Providers (FIPs) and Financial Information Users (FIUs), another 56 institutions live solely as FIPs, and 410 institutions operating exclusively as FIUs. Collectively, the system now enables over 2.2 billion financial accounts for secure sharing, while 112.34 million users have already linked their accounts under the framework.
Genesis of the Account Aggregator Framework
The roots of the AA framework go back to 2016, when the Reserve Bank of India (RBI) issued the Master Directions governing the ecosystem. The vision was to create a secure, consent-based architecture that would allow individuals to control their financial data and share it with third parties such as lenders, insurers, and wealth managers for services like loan applications, investment planning, and credit scoring.
The framework became operational in 2021, marking a critical addition to India’s DPI stack. In essence, Account Aggregators serve as intermediaries, ensuring encrypted, permission-driven, and user-consent-backed financial data flows between institutions, without compromising privacy.
AA as a Layer in Digital Public Infrastructure
During the G20 India Presidency in 2023, the AA ecosystem was formally recognized as a foundational layer of India’s DPI, alongside Aadhaar (identity) and UPI (payments). The AA was highlighted as the data exchange layer, providing a trusted mechanism for secure financial data flows.
The system’s role was featured prominently in key global reports, such as:
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Policy Recommendations for Advancing Financial Inclusion and Productivity Gains through Digital Public Infrastructure (2023)
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Report of India’s G20 Task Force on Digital Public Infrastructure (July 2024)
These endorsements cemented India’s leadership in building interoperable, scalable, and inclusive digital systems that can be models for the world.
Accelerated Growth and Adoption
Since its inception, the AA ecosystem has rapidly expanded across banking, insurance, pensions, and securities sectors. As of September 2025, the numbers tell a story of robust adoption:
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112 institutions live as both FIP and FIU
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56 institutions live solely as FIP
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410 institutions live solely as FIU
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2.2 billion+ financial accounts enabled for AA framework
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112.34 million users linked their accounts
This surge reflects growing trust among citizens, financial institutions, and regulators in the ecosystem’s ability to safeguard privacy while enhancing efficiency.
Transformative Impact
The AA framework is proving to be a game-changer in several ways:
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Enhanced Access to Credit:
MSMEs and individuals often struggle to access formal credit due to limited collateral or traditional credit history. Through AA, small businesses can consent to share verified cash flow and transaction data, enabling banks and NBFCs to make informed lending decisions. -
Empowering Financial Inclusion:
By providing a secure channel for sharing financial data, the system ensures that underserved populations gain better access to financial products such as loans, insurance, and pensions. -
Boosting Consumer Trust and Privacy:
The AA model ensures that consumers retain full control over who accesses their data, for what purpose, and for how long. Consent can be revoked at any point, ensuring privacy remains paramount. -
Driving Digital Economy Goals:
With India aiming for Viksit Bharat @2047, the AA ecosystem is expected to be a critical enabler in expanding formal financial access and deepening the reach of credit markets.
Global Recognition and Future Outlook
India’s AA model has drawn global interest, with several countries studying its design for replication. The system’s interoperability, data privacy safeguards, and scalability position it as a blueprint for digital financial ecosystems worldwide.
Going forward, the ecosystem is likely to expand further with integration into new sectors such as healthcare, education loans, and rural financial services, thereby unlocking new opportunities for inclusive growth.
As more financial institutions and fintech players join the framework, the user base is expected to grow multifold, strengthening India’s status as a global leader in digital financial innovation.
📌 Key Highlights of 4 Years of AA Ecosystem:
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Launched: September 2, 2021
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Recognized globally during G20 India Presidency 2023 as a core DPI layer
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112 FIs live as both FIP and FIU
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56 live as only FIP; 410 live as only FIU
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2.2 billion+ accounts enabled
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112.34 million users linked their accounts
Conclusion
As India celebrates four years of the Account Aggregator framework, the success of the initiative underlines how digital public infrastructure can democratize access to finance while ensuring privacy and security. With accelerated adoption, the AA system is well on its way to become a critical pillar in India’s march towards Viksit Bharat 2047, enabling inclusive growth, digital empowerment, and financial sovereignty.
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#AccountAggregator #DigitalIndia #FinancialInclusion #DataEmpowerment #DPILayer #UPI #Aadhaar #DigitalPublicInfrastructure #FinTechIndia #ViksitBharat2047 #ConsentBasedDataSharing
