What Sahamati actually does
Sahamati Sahamati
Standards body of the account-aggregator ecosystem — now its RBI-recognised SRO
Sahamati (non-profit catalyst for the Account Aggregator rail since 2020; recognised as the AA ecosystem's SRO on 5 June 2026) is the eighth and newest entry in RBI's SRO register. Its 110 RE members span AAs, FIPs, FIUs and TSPs, and it publishes operational dashboards no other SRO matches.
What Sahamati is
Sahamati began in 2020 as a non-profit ecosystem catalyst for the Account Aggregator (AA) framework — the RBI-regulated consent-based data-sharing rail that lets customers pull their financial data (bank accounts, investments, GST, insurance) into any FIU app with revocable, purpose-bound consent. Spun out of iSPIRT's product-thought work, it coordinated AAs, FIPs, FIUs and TSPs for five years before the RBI’s omnibus SRO framework gave it a formal home: recognised on 5 June 2026 as the SRO for the AA ecosystem.
Membership
- 110 RE members listed in its Current RE Members directory (captured 2026-09-11) — the widest net of any new SRO: the eight licensed AAs plus FIPs (banks, AMCs, depositories), FIUs (lenders, wealth apps) and TSPs.
- Membership categories mirror AA-ecosystem roles rather than legal form — a design choice worth watching as RBI's SRO rules technically cover 'regulated entities'.
Published infrastructure
- AA Usage Metrics & Industry Stats dashboards — volumes of consents, data requests and fulfilled requests across the network.
- Grievances Dashboard — complaint volumes and resolution rates, self-published by the industry body itself.
- AA APIs Health Dashboard and Central Registry status — operational transparency tools no other SRO runs.
- Certification and FIP-AA integration playbooks — de facto standards for onboarding data providers.
What to watch
- Enforcement record: dashboards show volumes, but no public disciplinary actions yet — the shift from catalyst to regulator is untested.
- Scope question: TSPs are not RBI-regulated entities; how an SRO recognised under the omnibus framework governs them remains to be seen.
- Conflict optics: Sahamati both promotes AA adoption and polices it — the dual hat the omnibus rules ask SROs to manage.
Gaps & open questions
- No public disciplinary/enforcement log yet — dashboards show volumes, not actions.
- Board, EC and conflict-of-interest disclosures are thinner than FACE's published governance.
- Unclear how TSPs (not RBI-regulated) sit inside an omnibus-framework SRO.