Pragati - The Sahamati Newsletter February 2023 

13 Mar 2023
Pragati – Sahamati Newsletter February 2023

Latest events and updates about Account Aggregator ecosystem


From the CEO’s desk

February 2023 has witnessed cumulative successful consent requests cross 5 million across the entire AA ecosystem! This is a momentous number giving us immense confidence in the ease of application and security of data sharing that the AA framework provides to the citizens and financial sector of this country. 

We have 32 financial institutions enabled to share data of their customers (FIPs), 144 institutions enabled to utilise the data from FIPs  to provide financial product or service to their customer (FIUs) and 9 operational account aggregators enabling this data transfer through the AA network (AA). The entire ecosystem, including financial institutions that are testing, developing and at other stages of adoption is today nearly 300! If we go on to include in-principle AAs, technology providers and other entities, we are a strong ecosystem of 400 entities! 

The Ecosystem makes great progress towards achieving its basic principles which include interoperability and reciprocity. 29 out of 32 FIPs today are live with 4 or more AAs, thus demonstrating that the system is becoming increasingly interoperable. Bajaj Finserv became the first Deposit Taking NBFC to join as a FIP denoting the commitment to principle of reciprocity. Two Regional Rural Banks went live on AA, further cementing the potential of this framework to achieve financial inclusion.

The community, together with Sahamati, is working towards efforts at building transparency, stability, and standardisation for a healthy scale-up of the ecosystem. Look out for this space as we announce some newer initiatives targeted at  achieving collective goals over the next few months.


Citizen Adoption


5 million

consent requests fulfilled across FIUs

4.45 million

accounts linked across FIPs

View the usage dashboard here


144 FIPs/FIUs live on AA network


75 FIPs/FIUs testing or in-development

data as on 10 March 2023, for more details on all AA Participants, click here


Industry Alliance Updates

Generating Awareness and Advocacy

How can account aggregator help the Registered Investment Adviser to leverage the quality of advice!

As part of their annual event, Association of Registered Investment Advisers (ARIA) conducted a session on Account Aggregator as the latest technology that can potentially disrupt the manner in which citizens get advice today making it more data driven and convenient. Sahamati was invited to explain how the AA Framework can be applied by RIAs as a growth lever in their advisory businesses. 


Click here to know more

NABARD welcomes applications from technology service providers

In its endeavor to enable adoption of account aggregator amongst nearly 388 cooperative banks, NABARD called out the TSP community through a joint session with Sahamati explaining the business constraints and requirements for a quick and efficient onboarding of cooperative banks on the AA Framework. Representatives from 40 TSPs attended the meeting (virtual and in-person). NABARD envisions close working with TSPs through training and parallel implementations for ensuring a time bound and cost effective onboarding of cooperative banks on AA.   

Click here to know more

Account Aggregator awareness event for Union Bank of India

In a first of its kind, Union Bank of India, a leading public sector bank, invited Sahamati to conduct an organisation wide awareness program on account aggregator. The idea was to improve adoption of AA at branches and motivate the functional teams to look at innovative use cases. More than 120 officials from senior management, technology team, operations team as well as the branch staff were present for this event. Sahamati covered the application and benefit of the framework for a citizen, its usability to the bank and the ease with which it can be implemented. A live demonstration of the phygital (physical+digital) loan application journey was also conducted. It showed how a customer can avail of an easy loan with UBI by using assistance from the branch personnel.


Click here to know more

Fostering Self-regulation and Collaboration

AA SLA Working Group Meeting #4

Nominated FIPs from AA ecosystem met during February 2023, to discuss the comments received on draft of AA SLAs v0.9. The working group has agreed on the AA integration SLAs and is deliberating on the performance and issue resolution SLAs.

Click here to read more about the working groups

Sahamati Support Portal hosts monthly meeting Session #5  

Sahamati Support team hosted 5th monthly meeting on Sahamati Support Portal for all Live Participants. The event saw the release of the Grievance Dashboards, that indicate the progress on the issue resolution. These dashboards focus on four important metrics – Capacity, First Response, Closure, and Composition of tickets being handled through Sahamati Support Portal

To view more details, click here 


Sahamati Initiatives


Providing Foundational Services

group_5742.png  Technical Infrastructure

Central registry | Token Service I Industry Dashboard | Members Portal

600+ UAT Central Registry Entries 

200+ Prod Central Registry Entries 

View details on Github here 

group_5741.png  Legal framework

Multi-partite Participation Terms | 

Dispute Resolution Framework* 

106 signatories to Participation Terms

* Dispute Resolution Framework – Work-in-progress 

View list of signatories to common Terms here

Promoting Interoperability

Group_5739.png   AA Uniform Code of Conduct 

32 FIPs are Live, of which 29 are interoperable with more than 4 operational AAs

Click here to know the latest matrix

7 Working Groups

120 Common Guidelines  

 View AA Uniform Code of Conduct here

Group_5740.png  Certification Framework

4 empaneled certifiers 

10 intermediate certified TSPs 

154 certified AAs/FIPs/FIUs

View details here

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