The work on the account aggregator framework started in 2016. Various entities have contributed in the areas of policy and technology. The market players have played an important role in embracing the AA framework in the initial years.

 Learn about the timeline of the Account Aggregator Framework.

2016Mar: RBI consultations on electronic consent

Sep: RBI Master Directions on AA
2017Jun: Srikrishna Committee Panel on Data Protection set up by Govt of India

Aug: Supreme Court Right-to privacy judgement
Mar: Electronic consent framework published by Ministry of Electronics & IT (MeitY)

Aug: Launch of DEPA
2018Jul: Draft privacy bill and Srikrishna Committee report releasedMar: Draft Technical Standards for AA published by ReBITOct: 9 applicants for AA licenses, 5 in-principle licenses issued by RBI
2019Oct: 1st NBFC-AA operating license issued to Onemoney by RBI

Dec: Joint Parliamentary Committee on privacy bill formed
Jan: AA sandboxes ready for POCs

Jul: POCs by 5 financial institutions demonstrated

Nov: Final v1.1.1 Tech Standard published by ReBIT
Jan: CEO roundtable of biggest banks and NBFCs

Jul: Sahamati industry alliance launched to drive adoption of AA
2020Jan: 3 more NBFC-AA operating licenses issued by RBI (Finvu, NADL, CAMS)Mar: Central Registry v1.0 launched by Sahamati

Sep: v1.1.2 Tech Standards published by ReBIT

Sep: Certification Framework v1.0 launched by Sahamati
Jul: First-ever AA hackathon organized, 50 teams, 500 developers, 1 month

Dec: First 10 institutions (including 3 AAs) achieve certification

RBI, Ministry of Finance, NITI Aayog publicly advocate the adoption of AA
Jul: Managed rollout with 2 AAs, 6 financial institutions underway to test out tech rails in production

Nov: Customer experience guidelines to be issued
Mar: Common Ecosystem Participation Terms v 1.0 released for a uniform legal framework

Sep: AA go-live announced

Oct: 30 TSPs list themselves offering AA-enabled services
2022*Jan: Market guidelines on Reciprocity Obligation to be publishedMar: AA for joint, corporate accountsJan: Insurance companies to launch POCs

Mar: Assisted-mode journeys for adoption at scale

Aug: All Public Sector Banks (PSBs) go live as FIPs