The ₹74,500 Crore Milestone: Account Aggregators Redefine India's Financial Future

Digital lenders, NBFCs, and banks collectively disbursed ₹74,500 crore under the Account Aggregator ecosystem during the first half of FY25. This is notable growth from when it was launched in September 2021, with disbursements now totalling ₹1.3 lakh crore. The system helped give rise to 5.47 million loans during H1 FY25, totalling 9.70 million loans. The size of the loan was an average of ₹84,507, down a touch from the aggregate average. The AA ecosystem is widely used for MSME and personal loans, testifying to its effectiveness in facilitating lending processes.

 

Source: The Economic Times