NESL Asset Data Limited (NADL) is an RBI-licensed Account Aggregator and a wholly owned subsidiary of National e-Governance Services Limited (NeSL). Headquartered in Mumbai, Maharashtra, NADL was incorporated in December 2017 and received its NBFC-AA license from the Reserve Bank of India on 13 August 2020. In this article we are going to explore what are its Services, how it works, uses cases and benefits of using it.
Overview of NADL Account Aggregator and its Services
| Aspect | NESL Asset Data Limited (NADL) Overview |
|---|---|
| Parent Organization | Wholly owned subsidiary of National e-Governance Services Limited (NeSL), a government-backed entity under the Ministry of Finance. |
| Headquarters | Mumbai, Maharashtra |
| Incorporation & License | Incorporated in December 2017 and received its NBFC-AA license from RBI on 13 August 2020. |
| Core Services | Consent-based financial data sharing across banks, NBFCs, insurers, and investment platforms under the RBI’s AA framework. |
| Target Users | Banks, NBFCs, fintechs, insurers, investment platforms, and individual consumers. |
| Differentiator | Government-backed parentage through NeSL, India’s first Information Utility under IBBI, ensuring high credibility and trust. |
| Market Position | Strong institutional backing makes NADL one of the most reliable and trusted AA players in India’s financial ecosystem. |
What is Account Aggregator?
An Account Aggregator is a framework introduced by the Reserve Bank of India (RBI). It allows users to share their financial data digitally and securely, with consent. Instead of uploading documents or statements, users can grant access through a simple and secure process. If you want to learn more Account Aggregator we have made a comprehensive guide.
Services Offered by NADL Account Aggregator
For Consumers
- Link financial accounts across banks, mutual funds, insurance, and pensions
- Share data digitally with institutions based on consent
- Manage or revoke consents anytime via the NADL app or web portal
For FIPs (Financial Information Providers)
- Provide secure and consent-based data access to regulated financial institutions
- Rely on a neutral, government-backed utility with no competing consumer apps
For FIUs (Financial Information Users)
- Access standardized, verified financial data with full compliance under RBI’s AA framework
- Benefit from a trusted platform focused solely on secure data delivery
NADL’s focus-only approach ensures neutrality, compliance, and transparency. By avoiding personal finance apps or analytics, it eliminates conflicts of interest and strengthens trust among both users and institutions.
How NADL Account Aggregator Works
NADL AA follows a consent-based process that is simple for users and secure for financial institutions. The main steps are:
- A user applies for a loan, credit card or any other financial product on an app or website
- The app requests financial data like bank statements through NADL AA
- A consent screen appears, showing:
- What data will be shared
- For what purpose
- For how long
- The user selects the accounts to link, enters the OTP and approves the request
- Setu AA fetches the data from FIP and delivers it securely to the requesting app (FIU)
- The user can revoke access anytime, stopping further data sharing instantly
Use Cases of NADL Account Aggregator for Fintechs
NADL is used by major banks like SBI, insurers such as SBI Life Insurance, NBFCs, and wealth platforms to enable faster, paperless financial services. As a government-backed Account Aggregator, it provides secure, consent-based data sharing that supports lending, insurance, SME credit, and wealth management. Some of the key use cases of NADL include:
- Faster Loan Approvals
- Wealth and Investment Advisory
- Insurance Underwriting Enhancements
- SME Credit Enablement
By delivering verified financial data instantly, NADL reduces paperwork, speeds up loan and policy approvals, and allows fintechs and institutions to build smoother onboarding journeys. It also empowers users to manage consents directly, making routine tasks like applying for loans, buying insurance, or tracking investments simpler, faster, and more transparent.
Benefits of Using NADL Account Aggregator
Government-Backed Ownership
NADL’s strongest advantage is its ownership under NeSL, which makes it one of the most trusted and neutral Account Aggregators in the ecosystem. For both users and institutions, this reduces concerns about data misuse and positions NADL as a safe channel for financial data sharing.
Focus-Only Mandate
Unlike private AAs that expand into personal finance apps or analytics, NADL concentrates solely on the regulated AA function. This singular focus ensures compliance, neutrality, and stability in the way data is exchanged.
Institutional Reliability
With its public sector foundation and strict adherence to the AA framework, NADL is often regarded as the most reliable choice for large banks, insurers, and government-linked programs adopting the AA ecosystem.
NADL vs Other Account Aggregators
| Factor | Private AAs (Finvu, Anumati, OneMoney, CAMSFinServ) | NADL (NeSL) |
|---|---|---|
| Network Coverage | Private AAs differentiate through features and integrations. For example, Finvu emphasizes analytics, Anumati adds a personal finance app layer, and CAMSFinServ leverages its mutual fund industry network. | Fully government-backed under NeSL; highly trusted by banks, insurers, and government-linked programs that prefer a neutral, regulated utility for data sharing. |
| Data Handling | Some private AAs add features like analytics, SDKs, or personal finance management tools on top of the AA framework. | Focuses solely on regulated AA functions without adding consumer-facing features or advisory layers, ensuring neutrality and avoiding conflicts of interest. |
| Role & Flexibility | Private AAs often compete on integrations, features, and user experience, offering flexibility and additional services to institutions and consumers. | Acts strictly as a utility-driven AA, limited flexibility for customizations but valued for its neutrality and government credibility. |
| Differentiators | Private players emphasize innovation: analytics (Finvu), personal finance integration (Anumati), or leveraging sector expertise (CAMSFinServ). | Only fully government-backed AA in India: branding highlights security, neutrality, and trust. Pricing reflects a utility model with nominal per-transaction charges. |
Future Roadmap of NADL Account Aggregator
Short Term
Expanding financial coverage by adding more categories of information providers beyond banks, such as insurers, pension funds, GST systems, and securities depositories. The AA framework already supports deposits, mutual funds, insurance, pension, and securities accounts, and these categories will continue to grow as per their FAQs.
Mid Term
Strengthening industry use cases, especially in areas like SME credit, where digital cash flow data can unlock working capital loans, and insurance underwriting, where pilots with SBI Life have shown how AA data can speed up approvals.
Long Term
Improving adoption and scale by making the app and portal easier to use, running awareness campaigns to build user trust, and upgrading infrastructure to handle rising transaction volumes as more institutions join the AA network.
FAQs on NADL Account Aggregator
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What is NADL Account Aggregator?
NADL (NESL Asset Data Limited) is an RBI-licensed Account Aggregator operated by National e-Governance Services Limited (NeSL). It helps individuals and businesses share their financial data securely and only with consent.
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When did NADL receive its license?
NADL received its NBFC-AA license from the Reserve Bank of India on 13 August 2020.
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What type of financial information can I aggregate from NADL AA?
Presently they are supporting only fixed deposit, savings deposit and current deposit accounts for linking and discovery. Many more instruments are in pipeline and for more info click here.
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Does NADL store my financial data?
No. NADL does not store or read your financial data. It only acts as a secure, regulated channel that transfers encrypted data between financial institutions, strictly with your consent.
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Can small businesses use NADL?
Yes. SMEs can use NADL to share transaction and cash flow data with lenders. This helps them access loans, invoice financing, and other credit products more easily.
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How do I use the NADL app?
You can download the NADL app on Android or iOS, or access it via the web portal. It allows you to link accounts, manage consents, and revoke access whenever you want.
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How is NADL different from other Account Aggregators?
NADL is unique because it is government backed and wholly owned by NeSL. Unlike private AAs that also build personal finance apps or analytics, NADL focuses only on regulated AA services, which makes it a neutral and trusted option.
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Can NRIs use NADL?
Yes. NRIs with Indian bank accounts and financial products can use NADL to link and share data, subject to the policies of the participating banks and institutions.
NADL has established itself as one of the most trusted Account Aggregators in India. Backed by NeSL and the Government of India, it operates with a clear mandate of neutrality and compliance, unlike private AAs that often diversify into personal finance or analytics. This positioning makes NADL a reliable partner for banks, insurers, and NBFCs that require secure, consent-driven data flows.
Looking ahead, NADL is expected to play a critical role in expanding the AA ecosystem. With its government-backed credibility, focus-only mandate, and growing coverage of financial information providers, it is well placed to support faster lending, digital insurance journeys, and better SME financing. For users, this means easier access to financial services, greater transparency, and a stronger sense of control over their own data.
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