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Account Aggregators License

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    Account Aggregators License & Compliances

    Account Aggregators are the financial organizations that grant structured allocation of financial data from the Financial Information Providers to the Financial Information Users. For transmitting this information, the approval request is taken from the users. The right of administering and revoking the assent lies with the users.

    It's vital to understand the term "Account Aggregator" before proceeding to the NBFC Account Aggregator permit. Account Aggregators are components that enable financial information sharing across financial institutions in addition to maintaining a record and obtaining consent.

    Consult us for Account Aggregators License & Compliances advise.

    BENEFITS

    Advantages of Account Aggregator Registration

    • The company must have built a plan to determine if, according to RBI rules, the promoters are suitable.
    • According to the company under the directives, a declaration will be received from the CEO/managing directors/directors.
    • Provide an annual clarification of the change of CEO/directors/managing director properly accredited by the Legislative Auditors within 15 days of the closing of the money-related year regarding the fit and valid requirements.
    • According to the company under orders, an arrangement deed will be received by the managing directors/directors/CEO.

    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.
    • After obtaining the principal approval from the regulator, NBFC-AA (NBFC Account Aggregator) will have a set time of year to set all the necessary design and binding required to carry out this merger business.
    • According to the RBI, an item found on consolidating financial sector-related accounts held by various regulators may be excluded from obtaining RBI approval. The RBI directs the NBFC-AA (NBFC Account Link).These types of elements are not allowed to pass money-related tests like other NBFCs.
    • NBFC-AA will provide data to financial users in relation to the client. They are not eligible to perform any fund-based activities like other NBFCs. At first glance we can’t really see them as NBFCs. NBFC Account Aggregators cannot use customer financial resources data for any other reason.

    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 effectively obtained online NBFC Registration, then it’s obligatory to fulfill all the NBFC annual compliances. Where NBFC is failing to accomplish the contracts, NBFC becomes liable for the hefty penalties. The penalties can even lead to the cancellation of the Registration.

    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 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.

    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 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@testing.telesensedigital.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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