#Licenses
To participate in AA ecosystem as an FIU or an FIP, entities are expected to be regulated by any one of these financial service regulators—
- Reserve Bank of India (RBI)
- Securities Exchange Board of India (SEBI)
- Insurance Regulatory and Development Authority (IRDA)
- Pension Fund Regulatory Development Authority (PFRDA)
#Reserve Bank of India (RBI)
These are the entities which are regulated by the RBI.
1. Banking Companies
| Entities | Sub type |
|---|---|
| Scheduled Commercial Banks | Scheduled Public Sector Banks |
| Scheduled Private Sector Banks | |
| Scheduled Small Finance Banks | |
| Scheduled Payments Banks | |
| Scheduled Regional Rural Banks | |
| Scheduled Foreign Banks | |
| Banks that are Wholly Owned Subsidiary (WOS) of foreign banks | |
| Co-operative Banks | Scheduled Urban Co-operative |
| Non-Scheduled Urban Co-operative Banks | |
| State Co-operative Banks |
2. Non-banking Financial Companies (NBFCs)
| Entities |
|---|
| Deposit accepting NBFCs |
| Non-Systemically Important Non-Deposit taking Company |
| Systemically Important Non-Deposit taking Company and Deposit taking Company |
| Standalone Primary Dealers |
| Housing Finance Companies |
| Core Investment Companies |
| Peer to Peer Lending Platform |
| Mortgage Guarantee Companies |
| Micro Finance Institutions |
| Infrastructure Debt Fund |
| NBFC-Factors |
| Core Investment Companies |
| Asset Finance Companies |
| Infrastructure Finance Companies |
| Asset Reconstruction Companies |
| Investment and Credit Companies |
3. Payment Systems
| Entities | Sub type |
|---|---|
| Retail Payments Organisation/NUEs | |
| Cards Payment Networks | |
| ATM Networks | |
| Pre-paid Payment Instruments | White Label ATM Operators |
| Bharat Bill Payment System (BBPS) | |
| Bharat Bill Payment Central Unit (BBPCU) | |
| Bharat Bill Payment Operating Units (BBPOUs) | |
| Payment Systems Operators |
#Securities Exchange Board of India (SEBI)
These are the entities which are regulated by SEBI.
| Entities | Sub type |
|---|---|
| Stock Exchanges | |
| Depositories | |
| Clearing Corporations | |
| Recognised Intermediaries | Alternative Investment Funds |
| Credit Rating Agencies | |
| Collective Investment Management Companies | |
| Debentures Trustees | |
| Designated Depository Participants grant registration to FPIs on behalf of the regulator and also carry out other allied activities in compliance with regulations | |
| Depository Institutions e.g. - National Securities Depositories Ltd (NSDL) and Central Securities Depositories Ltd (CDSL) | |
| Foreign Portfolio Investors (FPIs) | |
| Foreign Venture Capital Investors (FVCIs) | |
| Investment Advisers (RIA) | |
| Infrastructure Investment Trusts | |
| KYC (Know Your Client) Registration Agencies | |
| Mutual Funds | |
| Portfolio Managers | |
| Venture Capital Funds | |
| Real Estate Investment Trusts |
#Insurance Regulatory and Development Authority (IRDA)
These are the entities which are regulated by the IRDA.
| Entities | Sub type |
|---|---|
| Any person carrying on any class of insurance business in India. | |
| An Insurer, as defined under the Insurance Act of 1938 | An Indian Insurance Company |
| A statutory body established by an Act of Parliament to carry on insurance business | |
| An insurance co-operative society | |
| A foreign company engaged in re-insurance business through a branch established in India. “Foreign company" means a company or body established or incorporated under a law of any country outside India | |
| Corporate Surveyor | |
| Web Aggregators | |
| Third Party Administrators (TPA) | |
| Insurance Brokers | |
| Insurance Repositories | |
| Insurance Marketing Firms | |
| Corporate Agents |
#Pension Fund Regulatory Development Authority (PFRDA)
These are the entities which are regulated by the PFRDA.
| Entities |
|---|
| Point of Presence (PoPs) |
#Become an FIU with Setu
Setu is a TSP that can help you become an FIU and participate in the Account Aggregator ecosystem.
Information source—Sahamati
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