4 Years of Account Aggregator: India’s Digital Finance Backbone
India’s Account Aggregator (AA) ecosystem has completed 4 successful years since its launch in 2021, 2nd September. This system allows people to safely share their financial data (like bank accounts, loans, insurance, investments, etc.) with service providers when they want loans, financial advice, or other services.
What makes it important?
- Your financial data is shared only with your consent.
- Data is encrypted, ensuring privacy and security.
- It makes applying for loans, insurance, or investment services faster and easier.
Growth of Account Aggregator Ecosystem (as of Sept 2025)
| Category | Number | What it Means |
|---|---|---|
| Financial Institutions live as FIP + FIU | 112 | Institutions both providing and using financial data |
| Financial Institutions live as FIP only | 56 | Institutions only providing financial data |
| Financial Institutions live as FIU only | 410 | Institutions only using financial data |
| Total Financial Accounts Enabled | 2.2 billion | Accounts ready for secure, consent-based data sharing |
| Users Linked | 11.23 crore (112.34 million) | People who have already linked their accounts |
Globally, the AA framework has been recognized as a part of India’s Digital Public Infrastructure (DPI)—alongside Aadhaar (identity) and UPI (payments)—and highlighted during India’s G20 Presidency.
Why it matters: This ecosystem will make credit access easier for small businesses (MSMEs) and individuals, helping in India’s journey towards Viksit Bharat @2047.
Source: PIB, Ministry of Finance
