New Delhi, July 22 -- India has built one of the most advanced Open Finance infrastructures in the world through the Account Aggregator framework. This allows individuals and businesses to securely share financial data with consent across financial institutions using standardised APIs.

The Account Aggregator framework, introduced by the Reserve Bank of India as part of India's digital financial infrastructure, enables secure, consent-based sharing of financial data between institutions.

Access to credit in India, for many decades, depended largely on collateral or credit history. Land, property, gold, or other tangible assets traditionally formed the basis for lending. This led to the exclusion of many individuals and businesses with vi...