Membership Benefits
Common Tech & Legal Infrastructure
- Sahamati Central Registry – UAT and Production Environments
- Token Issuance Service – UAT and Production Environments
- Member Dashboards such as sAAns
- Access to Sahamati’s Support Application
- Access to Inter-Member Dispute Resolution Framework
Collaboration and Fair Conduct
- Opportunity to participate in tech working groups
- Implementation/spec assistance by Sahamati
- Opportunity to participate in Committee(s) and Council(s) on use cases, pricing policies, interoperability, fraud prevention, etc.
- Access to minutes of meetings of the Governing Council
- Invitations to Sahamati’s Annual General Meeting
Advocacy and Education
- Sahamati’s participation in members’ workshops
- On-demand sessions/ discussions from Sahamati
- Themed, invite-only events by Sahamati
- Sahamati’s participation in member-driven events
- Access to Sahamati’s Discussion Forums
Membership Fee
The applicable annual membership fee for Regulated Entities (REs) is spread across 3 categories, based on the entity type, size, participation in the AA ecosystem, amongst others, as under:
| Fee Category | Annual Membership Fee | Membership Benefits |
|---|---|---|
|
Category A
|
Rs. 5 Lakh
|
Sahamati Central Registry – UAT & Production environments Token Service API(s) – UAT & Production environments Member dashboards such as sAAns Support Application Governance participation Advocacy support Other services and/ or technology provided by Sahamati to its Members |
|
Category B
|
Rs. 1.25 Lakh
|
|
|
Category C
|
Rs. 25,000
|
Membership Fee Categorisation
Please find below the categorisation of the membership fee:
| Sl. No. | Entity type | Regulator | Criteria | Category A | Category B | Category C |
|---|---|---|---|---|---|---|
| 1 | NBFCs, including HFCs | Reserve Bank of India (“RBI”) | RBI categorization (Upper, Middle, Base) | Upper layer | Middle layer | Base layer |
| 2 | Banks (Private Sector, Public Sector, Foreign and Small Finance) | RBI | Asset Size (in INR - crores) | > 10,00,000 | 50,000 - 10,00,000 | < 50,000 |
| 3 | Private and Public Sector Life Insurance | Insurance Regulatory and Development Authority of India (“IRDAI”) | First-Year Premium (in INR - crores) | > 10,000 | 1,000 - 10,000 | < 1,000 |
| 4 | Private and Public Sector Non-Life and Health Insurance | IRDAI | Gross Direct Premium Underwritten (in INR - crores) | > 5,000 | 1,000 - 5,000 | < 1,000 |
| 5 | Insurance Broker/Corporate Agent/Insurance Marketing Firm/Web Aggregator | IRDAI | Revenue (in INR - crores) | > 100 | 20 - 100 | < 20 |
| 6 | Stock Brokers/Depository Participant | Securities and Exchange Board of India (“SEBI”) | Revenue (in INR - crores) | > 5,000 | 1,000 - 5,000 | < 1,000 |
| 7 | Registered Investment Adviser (IA) | SEBI | Revenue (in INR - crores) | > 50 | 25 - 50 | < 25 |
| 8 | Portfolio Manager (PM) | SEBI | AUM* (in INR - crores) | > 5,000 | 1,000 - 5,000 | < 1,000 |
| 9 | Asset Management Company (AMC) | SEBI | AAUM** (in INR - crores) | > 1,50,000 | 50,000 - 1,50,000 | < 50,000 |
* AUM: Assets Under Management
** AAUM: Average Assets Under Management calculated as an average of the quarter-end computation over the previous four calendar quarters preceding the date of submission of the application to Sahamati.
Note: All revenues/financial data should be calculated as per the latest available audited annual financial statements.
All NBFC-AAs are classified under Fee Category B.
The following entities are classified under Fee Category C:
| Sl. No. | Entity type | Regulator |
|---|---|---|
| 1 | Authorised Dealer - Category II (AD-II) | RBI |
| 2 | Credit Rating Agency (CRA) | SEBI |
| 3 | Point of Presence (PoP) | Pension Fund Regulatory and Development Authority (“PFRDA”) |
| 4 | Research Analyst | SEBI |
| 5 | Alternative Investment Fund (AIF) | SEBI |
| 6 | Trade Receivables Discounting System (TReDS) | RBI |
| 7 | Cooperative Bank | RBI |
| 8 | Depository | SEBI |
| 9 | Prepaid Payment Instrument (PPI) Issuer | RBI |
| 10 | Regional Rural Bank (RRB) | RBI |
| 11 | All India Financial Institution (NABARD, SIDBI, EXIM Bank, NHB) | RBI |
| 12 | Registrar and Transfer Agent (RTA) | SEBI |