Last month, Securities and Exchange Board of India (Sebi) officially joined the Account Aggregator (AA) framework, further strengthening the consent-based financial data sharing infrastructure. Under this option, customers can give consent to allow their data residing with a financial information provider (FIP; depositories and asset management companies in this case), to be shared with a financial information user (FIU; banks, NBFCs, wealth managers) for a specific business case—like, getting a loan or investment advice—through an RBI-regulated AA entity, digitally and in real time.
