Data portability gives you \u2014 the user \u2014 the right to access, move, and share your financial data securely between institutions. Under data portability framework india<\/a>, this means your data no longer stays locked within one bank or app; you can transfer it with consent to another service provider easily.<\/p>\n Think of it like switching your SIM card, but for finance. You can now share your loan history, insurance policies, or investment records with another lender or fintech \u2014 without filling endless forms. This principle lies at the heart of India\u2019s ongoing fintech revolution, where users control who sees their data, how long, and for what purpose.<\/p>\n Globally, data portability stems from the idea of \u201cdata as a right\u201d<\/b> \u2014 pioneered by the EU\u2019s GDPR. India has now localized that concept through the Digital Personal Data Protection Act (DPDP Act 2023)<\/b> and RBI\u2019s Account Aggregator (AA) framework<\/b>.<\/p>\n <\/p>\n Insight:<\/b> Data portability means your financial data belongs to you \u2014 not your bank.<\/p>\n <\/i><\/p>\n The backbone of financial data portability in India is the Account Aggregator (AA)<\/b> system. Under account aggregator system<\/a>, it acts as a digital bridge that allows you to share your financial information \u2014 like bank statements, insurance records, or mutual fund data \u2014 securely with another regulated entity.<\/p>\n Here\u2019s how it works:<\/b><\/p>\n Major licensed AAs in India include CAMSFinServ, Perfios AA, and Finvu, which connect over 400 financial institutions. They don\u2019t store your data; they simply facilitate encrypted, consent-based sharing between trusted entities.<\/p>\n <\/p>\n Tip:<\/b> Account Aggregators can\u2019t see or store your data \u2014 they only transfer it safely with your explicit consent.<\/p>\n <\/i><\/p>\nHow the Account Aggregator System Powers Data Portability<\/b><\/h2>\n
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Your Rights Under India\u2019s New Data Framework<\/b><\/h2>\n