Account Aggregator Technical Specification (India)

India's Account Aggregator (AA) framework is a consent-based data sharing ecosystem regulated by the Reserve Bank of India (RBI). The technical specifications are developed by Sahamati, the industry alliance for the Account Aggregator ecosystem, in coordination with ReBIT (Reserve Bank Information Technology).

The AA framework defines APIs for Financial Information Providers (FIPs) — entities that hold customer financial data such as banks, mutual fund houses, and insurance companies — and Financial Information Users (FIUs) — entities that consume data to provide services such as lending, wealth management, and personal finance management. Account Aggregators serve as consent managers and data routers between FIPs and FIUs.

The technical specification uses REST APIs with end-to-end encryption where data is encrypted at the FIP and can only be decrypted by the FIU. The consent artefact is a digitally signed, machine-readable document that specifies what data is being shared, for what purpose, and for how long.

As of 2023, over 60 million accounts have been linked through the AA ecosystem, with all major banks and several insurance and securities firms participating. The framework continues to expand to cover pension funds, GST data, and other financial information sources.