New Delhi, Aug 27: India’s Account Aggregator ecosystem is playing a growing role in the country’s digital lending landscape, facilitating loans worth ₹3.82 lakh crore across 3.68 crore loan accounts during FY26.
The Account Aggregator framework allows individuals and businesses to share their financial information electronically with regulated financial institutions after providing consent. The system is aimed at making the lending process more convenient while helping financial institutions assess borrowers using verified financial data.
During FY26, Account Aggregator-enabled lending accounted for around 8.4 per cent of retail and MSME lending by value and 11.8 per cent by volume, reflecting wider adoption of the digital framework.
The use of the system is also expanding beyond unsecured credit. Home loans and loans against property recorded strong growth during the year, indicating that lenders are increasingly using consent-based financial information for different types of borrowing.
Banks and non-banking financial companies have emerged as key participants in the ecosystem. The wider adoption of the framework is helping lenders process financial information digitally and could improve the speed and efficiency of credit decisions.
The system also has the potential to support borrowers who have limited traditional credit histories. By allowing lenders to access verified financial information with customer permission, it can provide a broader basis for evaluating creditworthiness.
For MSMEs, the framework could be particularly useful in supporting data-based lending and improving access to formal finance.
The Account Aggregator ecosystem is expected to expand further as additional financial information sources become integrated into the digital framework. This could create more opportunities for lenders to offer customised credit products based on a borrower’s financial activity and cash flows.
The strong lending volumes recorded during FY26 underline the growing importance of digital, consent-based data sharing in India’s financial sector and its potential to make formal credit more accessible to individuals and businesses.