India, Sept. 2 -- The Indian government's much-awaited account aggregator framework that was conceptualised in 2014 to facilitate smoother and safer access to financial data has gone live with four Indian banks coming on board today.

HDFC Bank, ICICI Bank, Axis Bank, Federal Bank, Kotak Bank, State Bank of India (SBI), IDFC and IndusInd Bank are in various stages of implementation of the framework.

At the launch event, the Reserve Bank of India's (RBI) deputy governor M Rajeshwar Rao stated that the AA framework will enable faster decision making across financial services such as wealth management, credit, insurance among other areas. More than 7,000 accounts have already been linked so far and nearly 6,000 customers have used AA to sha...