finpeel Answers · India · updated 2026-08-14
The Reserve Bank of India regulates NBFC Account Aggregators. The Account Aggregator framework permits consent-based transfer of financial information but does not allow the AA to use that data as its own lending or advisory asset.
The AA acts as a regulated consent and data-transfer intermediary between Financial Information Providers and Financial Information Users.
Other participants in the AA ecosystem remain regulated under their own sector rules; the AA licence is not a general open-finance licence for every financial activity.
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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