RBI Introduces Framework for Recognizing SROs in the AA Ecosystem.

Banking & Finance

In March 2025, the Reserve Bank of India (RBI) introduced a new framework for the recognition of Self-Regulatory Organisations (SROs) within the Account Aggregator (AA) ecosystem. The framework outlines the key characteristics, responsibilities, eligibility criteria, and governance aspects of SRO-AA.


      - The framework mandates that an SRO-AA must be set up as a not-for-profit company, registered under Section 8 of the Companies Act, 2013.

      - The eligible entity is required to maintain a minimum net worth of Rs 2 crore within one year after recognition as an SRO-AA by RBI, or before starting operations, whichever comes earlier.

      - The eligible entity must not hold 10% or more of its paid-up capital either individually or in collaboration with others.

Main Point :-   (i) The SRO-AA will operate within the existing regulatory framework for the AA ecosystem.

      (ii) Technical specifications will continue to be framed and published by the Reserve Bank Information Technology Private Limited (ReBIT) based in Mumbai.

(ii) Interested and eligible parties must apply via the PRAVAAH (Platform for Regulatory Application, Validation, and Authorisation) portal before June 15, 2025.
About RBI

Governor : Sanjay Malhotra
Headquarter : Mumbai
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