Summary: Data Empowerment and Protection Architecture (DEPA)

NITI Aayog has released a framework on Data Empowerment and Protection Architecture (DEPA) which it calls a “consent-based data-sharing framework to accelerate financial inclusion”. The apparent aim of this framework is to allow people to access their data and securely share it with third party institutions. The framework essentially proposes the implementation of an RBI Account Aggregator system in all sectors as a way to manage users’ consent.

Account Aggregators are basically consent managers within the financial sector and seven such aggregators have already received their “in-principle regulatory licence” and two have received “operational licences”.