New Delhi, June 8 -- The RBI's recognition of Sahamati as a self-regulatory organization (SRO) gives India's account aggregator (AA) network a formal, industry-led governing body.

While the network has already established itself as a vital credit rail for banks and non-banking financial companies (NBFCs), Mint explains why its ultimate test lies in its ability to expand beyond loans into insurance, wealth management, taxation, and broking.

Account aggregators, or AAs, are RBI-regulated entities that let customers share financial data from one institution with another after providing explicit consent. The AA sits between the financial information provider (FIP), which holds the data, and the financial information user (FIU), which wants ...