Benefits & Fees of RE members
Becoming a Regulated Entity (RE) Member of Sahamati provides your organisation with a unique opportunity to actively contribute to the growth and evolution of the Account Aggregator (AA) ecosystem.
Explore this page to learn more about the membership benefits, fee structure, and categorisation.
Category and Annual Membership Fee
| Fee Category | Annual Membership Fee |
|---|---|
| Category A | Rs. 5 Lakh |
| Category B | Rs. 1.25 Lakh |
| Category C | Rs. 25,000 |
Membership Benefits
| Sahamati Central Registry – UAT and Production environments |
| Common Token Issuance Service – UAT and Production environments |
| Member Dashboards such as sAAns |
| Technical health data via APIs |
| Access to Sahamati’s Support Application |
| Inter-Member Dispute Resolution Framework |
Common Tech & Legal Infrastructure
Benefit
- Sahamati Central Registry – UAT and Production environments
- Common Token Issuance Service – UAT and Production environments
- Member Dashboards such as sAAns
- Technical health data via APIs
- Access to Sahamati’s Support Application
- Inter-Member Dispute Resolution Framework
Collaboration and Fair Conduct
Benefit
- Implementation/spec assistance by Sahamati
- Opportunity to engage in participatory governance forums such as the Committee(s) and Council(s) on fair use, economic model, interoperability, fraud prevention, etc.
- Opportunity to participate in tech working groups
- Access to minutes of meetings of the Governing Council
Advocacy and Education
Benefit
- Sahamati’s participation in member-driven workshops and events
- On-demand sessions/ discussions with Sahamati
- Themed, invite-only events by Sahamati
- Access to Sahamati’s discussion forums
Please find below the categorisation of the annual 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 shall be classified under Fee Category B.
The following entities shall be 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 |