Key facts
- RBI approved Sahamati as SRO for Account Aggregator ecosystem.
- Account Aggregators (AAs) are digital platforms for sharing financial data.
- AAs enable data sharing between banks and financial service providers.
The Reserve Bank of India (RBI) has officially approved Sahamati to serve as the Self-Regulatory Organisation (SRO) for the Account Aggregator (AA) ecosystem. Account Aggregators function as digital platforms that enable the secure sharing of financial data. This data sharing occurs between various financial institutions, including banks and other financial service providers, streamlining financial operations and data management within the sector.