Incorporation of NBFC- Account Aggregator Registration in Jaipur, Rajasthan

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NBFC- Account Aggregators are the Companies having registration from the Reserve Bank of India for sharing financial data of the general public with Financials organization with the consent of the user. They act as an intermediary between Financial Information providers (FIP) to Financial information user(FIU).


  1. It should be a Company registered under the Companies Act, 2013
  2. The company should have a minimum paid-up capital of Rs. 2 crores, However Company can raise the fund within 12 months from the receipt of principal approval from RBI.


  1. The company shall make an application for registration to the Department of Non-Banking Regulation, Mumbai of the Bank, in the form specified by the Bank for the purpose.
  2. The Bank for the purpose of considering the application for registration shall require to be satisfied that the following conditions are fulfilled:-

a) The company has the necessary resources and wherewithal to offer such services to customers.

b) The company has an adequate capital structure to undertake the business of an account aggregator.

 c) The promoters of the company are fit and proper.

d) The general character of the management or proposed management of the company is not prejudicial to the public interest.

 e) The company has a plan for a robust Information Technology system.

f) The company shall not have a leverage ratio of more than seven. 6

g) That the public interest shall be served by the grant of certificate of registration to the Account Aggregator to commence or to carry on the business in India.

h) Any other condition that made be specified by the Bank from time to time, the fulfillment of which in the opinion of the Bank shall be necessary to ensure that the commencement of or carrying on the business in India shall not be prejudicial to the public interest.

  1. The Bank may, after being satisfied grant in-principle approval for registering as an Account Aggregator subject to such conditions as it may consider fit to impose.
  2. The validity of the in-principle approval issued by the Bank will be twelve months from the date of granting such in-principle approval.
  3. Within the period of twelve months, the company shall put in place the technology platform, enter into all other legal documentations required to be ready for operations, and report the position of compliance with the terms of the grant of in-principle approval to the Bank.
  4. The Bank may, after being satisfied that the company is ready to commence operations and in compliance with the registration requirements, grant it a Certificate of Registration as an NBFC - Account Aggregator subject to such conditions as it may consider fit to impose.

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