Pragati - The Sahamati Newsletter June 2023

10 Jul 2023

Latest events and updates about Account Aggregator ecosystem


What’s New

The rainy season started with showers of exciting news. GSTN is in the final leg of going live on the AA Framework, with ReBIT publishing the GSTN data schemas. The enthusiasm amongst the Financial institutions, not just lenders but also insurance companies & others, to build and roll out innovative cash flow-based products for MSMEs has been highly encouraging. We expect to see the first few roll-outs in lending and insurance begin in the next month or so.

The cumulative number of consents successfully fulfilled through AA reached 13.76 million in June 2023, registering a monthly growth rate of 28%. The number of new consents successfully fulfilled in June was 2.9 million, which translates into 97000 consents per day. The total number of entities that are live on AA has now reached 247, with 75 FIPs and 230 FIUs.

As the AA Framework becomes a critical infrastructure for financial institutions, so does the need to strengthen the foundation of governance and improve adherence to SLAs. With community efforts, Saans: the AA API health dashboard now includes reporting from 5 AAs and is increasingly adopted by FIPs to self-monitor and improve their delivery rates. Starting with transparency dashboards, the community has shown an intent to move towards the implementation of best practice codes of conduct and data governance audits in the medium to long term.

The Digital Data Protection Bill was cleared by the Cabinet and is expected to be tabled in the monsoon session of the Parliament. The legislation, once improved, will define newer standards of Data Empowerment and Data Governance in the country with consent managers being one of the critical components towards ensuring it.
Now that AA is truly cross-sectoral, with FI types from all FSRs active, adoption within a sound governance framework will define the success of the ecosystem in the times to come. I would like to conclude by saying that exciting times are ahead, with India set to fortify its position as an emerging leader in Digital Public Infrastructure and make definitive strides toward the national targets of financial inclusion. 

AA Adoption

13.76 million

Consent requests fulfilled 

11.61 million
Accounts linked on AA

380+ FIs

actively engaged in AA adoption

230 FIs

Live on AA

75 FIPs

Live on AA 

30 FIPs

available on 4 or more AAs 

Common Infrastructure

218 FIs

11 TSPs

Sahamati Certification Framework

138 Signatories
AA Participation Terms

896 UAT 

352 Prod

Entries in AA Registry 


Grievances handled


Grievances resolved 


FI Dashboards disseminated




Open House Discussion on Fair Usage of AA Consent by FIU 

As the AA ecosystem grows, newer types of FIU licences and newer use cases for data fetches are expected to emerge. The event covered topics such as defining guidelines for fair usage of AA, ensuring transparency, and implementing course corrections in case of deviations. In the spirit of self-governance, Sahamati initiated a discussion about transparency of FIUs’ usage of AA consents for various use cases. 


FIP technical Health

FIP technical Health through Saans

Sahamati has also been working with FIPs closely to identity key areas of improvement in technical health through Saans dashboards. We continue to actively engage with FIPs to help interpret and address the technical health issues. In June, three additional operational AAs have started contributing to real time data streaming on Saans. Based on FIPs request, we have enabled their teams to view AA wise data. This service is in beta phase and currently made available to select few FIPs. Soon we will be launching the service to other live FIPs in the ecosystem.



GST as FIP in the AA ecosystem

Easy access to satchetised small ticket, need based, cash flow unsecured loans and invoice financing to MSMEs will now be a reality! In a ground breaking development, ReBIT has published the data schemas for GSTN paving the way for GSTN to go live on the AA Framework. With this GSTN can be expected to Go Live on the AA Framework in the next few weeks.



Support Portal enhancements:  9th edition of Sahamati Support Portal Monthly Webinar

Sahamati held the 9th edition of its Support Portal monthly webinars, reporting the slower first response to tickets raised and delays in resolving the known issues. The session also highlighted the long-standing data quality grievances and the steady increase in the users’ reported instances. Sahamati has been and will continue working closely with the market participants to bring better transparency to data quality.  



Collaborative advocacy for Insurance and Mutual Funds  

In June 2023 we held community and organisation-level workshops focussed on emerging use cases and to address the concerns and queries of new participants in the ecosystem. Some key discussions included

  • Interoperability and reciprocity with participants from all major life and general insurance companies

  • Common participation terms and service levels with key participants from mutual fund companies

Please click below to read the queries raised and their responses 

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