RBI/2023-24/77
DoR.FIN.REC.53/03.10.123/2023-24

October 26, 2023

All Regulated Entities of the Bank

Dear Sir/ Madam,

Joining the Account Aggregator Ecosystem as Financial Information User

Please refer to the Master Direction – Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016.

2. It has been observed that certain entities, which are eligible to join Account Aggregator (AA) ecosystem as Financial Information Provider (FIP), have onboarded as Financial Information User (FI-U) only. Consequently, such entities are accessing financial information from other FIPs but are not providing the financial information held by them. As such, with a view to ensure efficient and optimum utilisation of the AA ecosystem, it has been decided that regulated entities of the Bank joining the AA ecosystem as FI-U shall necessarily join as FIP also, if they hold the specified financial information and fall under the definition of FIP.

3. The Master Direction – Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016, is being modified accordingly.

Yours faithfully,

(R. Lakshmi Kanth Rao)
Chief General Manager-in-Charge