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NEWSLETTER · NOVEMBER 2025 |
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The enactment of the Digital Personal Data Protection (DPDP) Act in August 2023, followed by the notification of the DPDP Rules in November 2025, marks a significant step in strengthening India’s digital governance framework. Together, they operationalise a citizen-centric and rights-based approach to data protection.
The DPDP framework empowers individuals while creating clear, lawful pathways for data processing by companies. While Data Fiduciary obligations will be phased in over the next 18 months, organisations must begin their compliance journeys now.
The Account Aggregator (AA) ecosystem has long embodied the core principles of the DPDP Act through a robust techno-legal architecture built on explicit customer consent. Today, AAs already enable customers to: - Receive clear and detailed notices at the time of consent
- Review, approve, and revoke consents for financial data sharing
- Manage data sharing across regulated entities under RBI, SEBI, IRDAI, and PFRDA
This reinforces the role of AAs as the trusted rails for consent-based financial data sharing.
Looking ahead, as the DPDP Act extends beyond financial data, the evolution of Consent Managers will be key. A strong consent management ecosystem can: - Provide scalable consent infrastructure to Data Fiduciaries across sectors
- Help citizens easily manage multiple, active data consents
- Bridge varying levels of technical readiness among organisations
At Sahamati, we welcome the DPDP Act and its Rules as a pivotal moment for India. We remain committed to working closely with our members and ecosystem partners to support responsible adoption, strengthen consent-driven data sharing, and ensure that citizens’ rights stay at the center of India’s digital future.
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328+ M
Consents Fulfilled
10+ M
Monthly Accounts Linked on AAs
176
FIPs Live on AAs
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233+ M
Accounts Linked
425+ M
Monthly Data Shares on AA
806 FIUs Live on AAs
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20+ M Monthly Consent Request Fulfilled
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859 Live Entities on AA
91 FIPs on 4+ AAs
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Discover how the Account Aggregator (AA) ecosystem is reshaping India’s lending landscape in this upcoming episode of Manthan Hosted by B.G. Mahesh, CEO of Sahamati, this conversation features Rajiv Sabharwal, CEO & MD of Tata Capital, who brings a wealth of experience in the lending space. Together, they explore how Tata Capital is leveraging the AA framework to power its digital lending journey and drive innovation in financial services. 🎧 Tune in here.
The financial industry is evolving at scale! Both locally and globally — and the next chapter is already unfolding Join Kiran Gopinath, Head of Sahamati Labs & Chief Innovation Officer at Sahamati, and Gabriel Bizama, Head of Research at Sahamati Labs, as they break down India’s leap into open finance, global shifts across CBDCs, fast payment rails, stablecoins, tokenization, and the rise of cross-border open finance. Watch here.
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The Router MVP remains firmly on course
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As of November 2025, the Router Minimum Viable Product (MVP) has made strong progress, with 23 Financial Institutions now enrolled. Participating institutions are currently moving through a structured four-step journey to complete the MVP: - Completion of onboarding
- Code changes for integration with the Router
- Validation of Router integration using simulators
- Validation of Router integration with Regulated Entities (REs)
Community inputs have played a critical role in shaping the MVP. Key learnings include the ability for Account Aggregators (AAs), even after integrating with the Router, to selectively bypass it when required; enhanced mechanisms to capture observability inputs; and improvements aimed at making integrations simpler and more efficient for Regulated Entities.
Overall, over 60% of the MVP journey has been completed, reflecting steady momentum and strong ecosystem collaboration.
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Common Standards and Best Practices
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As of November 2025, Fair Use implementation rules adopted by FIUs and AAs in June 2025 are fully integrated across the ecosystem. All operating AAs with active FIUs now run automated Fair Use checks and consistently reject consents and data requests that fall outside the permitted templates, reflecting strong alignment with the framework.
The AA Council reviewed and proposed changes to Fair Use implementation rules v1.0. The updated proposals were presented to the Fair Use Committee, which acknowledged the progress achieved and endorsed further refinements to strengthen ecosystem-wide consistency.
Sectoral Use Case Councils continued their ongoing work on the consent template library.
New templates have been finalised for priority sector lending, evaluation of credit rating of instruments, and other use cases are under discussion.
To support adoption, a set of FAQs has been added to the Fair Use Template Library.
Please refer to this page for quick guidance and clarification: https://sahamati.org.in/aa-fair-use-template-library/faqs
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How Account Aggregators Are Enabling Faster, Smarter Income Assessment for Microfinance Institutions |
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Sa-Dhan, in association with Accion, organised a conclave on “Household Income Assessment: Account Aggregator as Enabler” on 25 November 2025 in Bengaluru, bringing together key stakeholders from the microfinance ecosystem. The discussions focused on how the Account Aggregator (AA) framework can support MFIs in income and indebtedness assessment, enabling faster underwriting, better risk management, and more efficient operations.
Representing Sahamati, Shalini Gupta and Abhishek Varshney participated in the conclave and shared practical insights on how MFIs can leverage the AA ecosystem to strengthen their journey towards inclusive, technology-led finance.
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“Account Aggregator (AA), which has the potential to emerge as a key piece of digital infrastructure in India’s financial sector, has reached a stage where targeted incentives will be essential for mass adoption, according to B.G. Mahesh, Chief Executive Officer of Sahamati…”
👉 Read the story article here
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In a recent interaction with Ee Sanje News, B.G. Mahesh, CEO of Sahamati, shared insights on the Account Aggregator (AA) framework and how it benefits customers by enabling secure, consent-based data sharing. Watch the interview here.
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Sahamati Foundation is a member-driven industry alliance
formed to promote and strengthen the Account Aggregator ecosystem in
India.
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