Lending firms utilise Account Aggregator framework for Rs 42,300 crores in loans: Sahamati
Lending firms using the Account Aggregator (AA) framework facilitated loans worth Rs 42,300 crores from September 2021 to March 2024, noted a report released by Sahamati on Monday.
Sahamati is a market-led industry alliance for the AA ecosystem. The report on ‘Lending facilitated by Account Aggregators’ is the first of a series. It is aimed at tracking the level of adoption and usage of the AA framework.
In the current report, it is noted that lending firms have used AA framework to facilitate loans worth Rs 42,300 crores from September 2021 to March 2024, with a cumulative average loan ticket size of Rs 1,00,237 for the same period. The growth in facilitating loans is indicated by total loans disbursed which is Rs 21.2 lakhs with Rs 22,100 crores in disbursements facilitated by AAs in second half of FY24.
«Average loan ticket size in this period stood at Rs 1,04,245 and is expected to reduce as we expect more cash-flow based lending to MSMEs and unsecured loans to new to credit customers,» Sahamati said, in a statement.
The numbers represent the data submitted by the nine top-performing Financial Information Users (FIUs), accounting for about 60% of consents fulfilled for the second-half of FY24. «The numbers, if extrapolated for the ecosystem, are much higher,» Sahamati said.
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