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🌍
Jurisdiction
India
📅
Effective Date
2021
Sep 2, 2021
✅
Full Compliance
2023
Jan 1, 2023
🏛️
Regulator
Reserve Bank of India
Overview
India's consent-based data sharing framework enables individuals and businesses to share financial data with service providers. Licensed Account Aggregators act as consent managers between Financial Information Providers (FIPs) and Users (FIUs).
Scope & Coverage
BankingSecuritiesInsurancePensionsGST Data
Key Requirements
1
NBFC-AA license requirement2
Digital consent artifacts3
Data encryption standards4
Multi-sector data sharingKey Notes
Unique consent-layer architecture. Part of India Stack. Growing rapidly with OCEN lending use case.
Official Resources
Related Regulations
Other open banking frameworks in Asia:
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