Reserve Bank of India (RBI) approved the “NSDL e-Governance Infrastructure” as an account aggregator.

• NSDL e-Governance Infrastructure is an IT-enabled services provider.
• It got an in-principle approval from RBI for setting an account aggregator business under the wholly owned subsidiary called NSDL e-Governance Account Aggregator Ltd.

Account Aggregator (AA) model

• Account Aggregator (AA) model has the potential of transforming the way by which financial services are delivered by means of a unique architecture for consent-based sharing of data.
• It is a financial data-sharing system, which can revolutionise investment & credit.
• It can provide greater access & control over financial records to millions of consumers.
• This model will also expand the potential pool of customers to the lenders and fintech companies.
• Account Aggregator will help in empowering individuals with control on their personal financial data.