India's Account Aggregators Boost Credit Inclusivity

In India, a special system called Account Aggregators (AAs) is helping more people and small businesses get loans.

Before, banks mostly looked at things like property or credit history to decide who gets a loan.

But many people didn't have these things, so they couldn't get loans.

Now, with AAs, people can share their financial information safely and securely with banks.

This helps banks see a bigger picture of how people manage their money, like their income and spending habits.

This way, more people can get loans, even if they don't have a lot of property or a long credit history.

It's like giving everyone a fair chance to get the money they need.