RBI grants SRO-AA status to Sahamati

MUMBAI: Sahamati Foundation has been recognised as a self-regulatory organisation for the account aggregator ecosystem by RBI.Reserve Bank had sought applications for recognition of self-regulatory organisation(s) for the account aggregator ecosystem (SRO-AA) in March this year. "An application seeking recognition as an SRO-AA was received from Sahamati Foundation and was examined against the relevant requirements prescribed under the framework. Based on this examination, the RBI has decided to recognise Sahamati Foundation as an SRO for the account aggregator ecosystem,"RBI said.