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Account Aggregators License

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    Account Aggregators License & Compliances

    Account Aggregators are like middlemen between companies that have your financial info and the ones who want to use it. They get permission from you to share this data, and you can decide to stop them anytime.

    Before diving into getting an NBFC Account Aggregator permit, let's understand what an "Account Aggregator" is. Basically, Account Aggregators help share financial information between different banks and institutions while keeping records and getting consent. Need advice on getting a License for Account Aggregators and following the rules?

    Consult with us!

    BENEFITS

    Advantages of Account Aggregator Registration

    The company needs to create a plan to check if the promoters meet the rules set by RBI. According to the company’s instructions, the CEO, managing directors, and directors will provide a statement confirming this. They also need to report any changes in these positions each year, validated by auditors, within 15 days after the financial year ends. Additionally, the company will get an agreement document from the managing directors, directors, and CEO as per the instructions.

    Account Aggregator Registration

    eligibility criteria for NBFC Account Aggregator

    • With an NBFC-AA (NBFC Account Aggregator) license, a minimum requirement of Rs is required. 2 crore. However, the agency will have a set one-year funding period after receiving extensive approval from the RBI. No services may be provided without NBFC-AA (NBFC Account Link) integration.
    • Once the NBFC-AA (Non-Banking Financial Company - Account Aggregator) gets permission from regulators, they'll have a specific timeframe to get everything for the merger.
    • The RBI states that certain financial sector accounts, when merged by various regulators, might not need RBI approval.
    • The RBI oversees NBFC-AAs. They're different from regular NBFCs as they're not allowed to carry out financial transactions and can only provide data to financial users about clients.
    • Essentially, they're not seen as typical NBFCs since they can't use customer financial data for anything other than what's intended.

    60 Minutes Strategic Planning Consultation:

    Rs. 1999/-(Now Just Rs. 999/-*)>

    Click on "Book Consultation" button below to book consultation. Once you complete the booking transaction, then you will be redirected back here to schedule appointment and it will be clearly explained on that page "how you can schedule call" . 

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    Account Aggregator Compliances

    post-registration Account Aggregator compliances

    If a company has successfully registered online as an NBFC, it must meet all the annual compliance requirements. If they fail to do so, they could face hefty penalties, and in some cases, their registration might even get canceled.

    Statutory Audit

    Tax Audit

    Income Tax Return Filing

    GST Return Filing

    Registrar of Companies Returns

    RBI Compliances

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    Testimonials

    What Our Clients Say

    Mr. Manish is highly professional. We get the best service and advice. Very punctual and dedicated team, always stays upfront in informing anything to avoid obligations. Thank you so much.
    raman

    Raman Shukla

    COO at VSERV Infosystems & Founder VSERV Academy
    Mr. Manish Mishra's team provided invaluable guidance and expertise in Fintech and NBFC advisory, helping us navigate complex financial regulations and achieve remarkable growth in our business. Their insights are truly a game-changer.
    abhihek

    Abhishek M R

    Managing Director AMR FINANCE PVT LTD
    Mr. Manish, as our Virtual CFO, has been instrumental in propelling our business to spontaneous growth. His expert guidance and strategic insights have transformed our financial landscape, paving the way for remarkable success.
    ajay

    Ajay Kumar

    Founder & CEO - Eagabriz Shipping Pvt Ltd

    FAQS

    Have Questions?
    Find Answers Here

    NBFC Account Aggregators are institutions that allow data sharing across multiple organizations in the financial sector and function as “consent brokers,” i.e., with the consent of the consumer, they intermediate data transfer between financial organizations.

    For pricing details please mail us at info@camanishmishra.com or book a free consultation call. 

    No, a NOF of Rs 2 crores is not required before applying for NBFC AA registration. The applicant, on the other hand, must have the same when applying for a Certificate of Registration from the RBI.
    RBI (Reserve Bank of India), SEBI (Securities Exchange Board of India), IRDAI (Insurance Regulatory and Development Authority of India), and PFRDA (Pension Fund Regulatory and Development Authority) are the organizations in question.
    Yes, all existing account aggregator businesses were required to apply for registration within one month of the date of the RBI’s master directions being issued. RBI released instructions on September 2nd, 2018.

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