finpeel Answers · India · updated 2026-08-14
You need RBI NBFC-AA registration if your company itself carries on the regulated Account Aggregator business. A Financial Information User consuming data through a licensed AA for a permitted purpose does not become an AA merely because it receives customer-consented data.
The role in the ecosystem matters: AA, Financial Information Provider and Financial Information User are not interchangeable.
If your product only integrates with a licensed AA, structure consent and data flows so it does not itself perform the regulated aggregation service.
Regulator: Reserve Bank of India (RBI)
Primary sources: RBI — NBFC Account Aggregator Directions
Directional — not legal advice. Verify with the regulator before committing.
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