Account Aggregator Ecosystem is ready to unlock new boundaries in formal credit access, especially for MSMEs and personal loans, which in 2047 use meaningfully to the journey from India to Viksit Bharat, the Ministry of Finance said Tuesday.
The Framework of Account Aggregator (AA) was officially launched on 2 September 2021, whereby a safe, permission -based system for financial data shelter was set up. In 2016, the reserve Bank of India gave the main directions for the AA -Ecosystem.
On the occasion of the 4th birthday, the ministry said in a statement, the AA ecosystem has grown rapidly and witnesses accelerated acceptance about bank, securities, insurance and pension sectors, which strengthens the DPI of India (digital public infrastructure).
On the date, 112 financial institutions went live, both as financial information providers (FIP) and Financial Information User (FIU), while 56 only went live as FIP and 410 as Fiu, said it.
More than 2.2 billion financial accounts have now been made possible for safe, permission-based data exchange via the AA framework, where 112.34 million users have already linked their accounts, underlined the growing scale and trust in this transformative initiative, said it.
With the AA framework, users can collect their financial information (such as bank accounts, investments, loans, etc.) of multiple sources and sharing with service providers (eg lenders, asset managers) for services such as loan applications or financial planning. AAS acts as intermediaries and ensures data privacy and user control by encrypted, consent -driven data exchange.
During the G20 India presidency in 2023, AA was recognized as a fundamental DPI that served as the data exchange layer that supplemented the identity (Aadhaar) and payments (UPI) layers, it said.
The role and impact of AA are recognized in important G20 documents, including the ‘policy recommendations for promoting financial inclusion and productivity gain through digital public infrastructure’ (2023), it said.
Its meaning is also detailed in the ‘Report of India’s G20 Task Force on Digital Public Infrastructure’ released in July 2024, it added.
Published on 2 September 2025
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