India's Account Aggregator ecosystem drives Rs 3.82 lakh crore loans in FY26

New Delhi, Aug 27 (AHN) India's Account Aggregator (AA) ecosystem facilitated an estimated Rs 3.82 lakh crore worth loan disbursals across 3.68 crore loans in FY26 and now accounts for 8.4 per cent of India’s retail and MSME lending by value and 11.8 per cent by volume, a report said on Thursday.

The report from RBI-recognised Self-Regulatory Organisation (SRO) for AA ecosystem Sahamati said that AA‑enabled home loans and loans against property touched 1.09 lakh loans worth Rs 20,777 crore in FY26, marking a 624 per cent year‑on‑year increase.

The report highlighted a significant broadening of AA adoption, with the framework expanding beyond unsecured retail lending into secured credit and seeing increasing participation from banks.

The shift is also being driven by growing adoption among mainstream financial institutions. Banks accounted for 47.3 per cent of AA-enabled lending by value in H2 FY26, nearly matching non‑bank finance companies, the report added.

The report also presented early evidence of the framework's potential to advance financial inclusion. Among participating institutions, new-to-credit borrowers accounted for 18.2 per cent of AA-enabled loan originations by volume, while women borrowers accounted for 19.8 per cent of loan volumes and 19.1 per cent of disbursed value.

These findings point to the potential of consent based financial data to help lenders assess borrowers with limited or evolving formal credit histories.

"As more financial information sources come on stream, the framework will help make lending faster, more inclusive and more efficient for both financial institutions and customers," said Shalini Gupta, Chief Policy and Advocacy Officer, Sahamati.

The report forecasts the expansion of financial information sources such as GST, CBDT and EPFO is to further strengthen cash flow-based lending and unlock new use cases across retail, MSME and secured credit, accelerating the next phase of the Account Aggregator ecosystem.

—AHN

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