India, June 5 -- The Reserve Bank of India (RBI) has recognised Sahamati Foundation as the Self-Regulatory Organisation (SRO) for India's account aggregator (AA) ecosystem.

As an AA SRO, Sahamati will act as a neutral institution tasked with creating operational and technical standards, maintaining ecosystem discipline, facilitating dispute resolution, and supporting technical interoperability. It will essentially create formal, industry-led mechanisms to oversee governance and coordinate across the ecosystem.

Sahamati, backed by Infosys cofounder Nandan Nilekani and led by CEO BG Mahesh, was launched in 2019 as a non-profit body to promote the account aggregator ecosystem. It raised a Rs.50 Cr funding round from over 30 financial secto...