Rapid Expansion of Account Aggregator System
The account aggregator (AA) system, a revolutionary financial data sharing framework introduced by the RBI in 2021, has seen a consistent monthly growth of 12% in consents. As of December 2024, the total value of loans facilitated by this system has surpassed Rs 1.3 lakh crore, marking a significant milestone in the digital lending space.

Surge in Borrower Consents and Financial Information Providers
According to a report by Sahmati, a not-for-profit industry alliance, the cumulative number of borrower consents for sharing account details with lenders has exceeded 14.3 crore since September 2021. With 173 financial information providers now integrated into the AA platform, the ecosystem is thriving, facilitating an average of 2.8 lakh consents daily since April 2024.
Digital Lenders and NBFCs Leading the Charge
Digital lenders and Non-Banking Financial Companies (NBFCs) are at the forefront of utilizing the AA framework, with NBFCs accounting for 65% of the cumulative consents. This system enables these institutions to make informed credit decisions by accessing a wide range of financial data, including bank statements, GST records, and mutual fund details, without compromising data security.
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