Setu AA is the brand of Agya Technologies Pvt. Ltd, which has received a Certificate of Registration from the RBI to operate as an NBFC Account Aggregator.

Agya — Pricing Policy

Revision Date — 6th February 2024

Agya Technologies Private Limited (operating under the brand name ‘Setu AA’) (“Agya”), is a Non-Banking Financial Company Account Aggregator (“NBFC-AA”). Agya is licensed by the Reserve Bank of India (“RBI”) to fetch, aggregate and process data received from one or more Financial Information Providers (“FIPs”) with the explicit consent of its customers (“Customers”) and share this data with Financial Information Users (“FIUs”).

Our Pricing Policy (“Policy”) details the revenue model adopted by Agya in the course of conducting its activities as an NBFC-AA.

1. Pricing for Customers

It is clarified that Agya does not charge Customers for usage of the services as an NBFC-AA. Customers do not pay any fees for account registration, provision and management of consent, or any other services offered by Agya.

2. Pricing for FIUs

Agya will charge FIUs on a per-fetch basis, which is dependent on the use case of the respective FIU. The average range will be INR 1 paisa to INR 25 per fetch. Agya enters into agreements with FIUs which exhaustively lay down the obligations of Agya and the FIU, service levels, use cases and pricing in compliance with applicable laws and the regulatory framework.

3. Exclusions

3.1  The pricing construct as detailed under Section 2 above, does not include any charges levied by FIPs for supplying data to Agya. Any such charges will be passed on by Agya subject to discussion and revision of this Policy.

3.2  The pricing construct under this Policy is applicable only to currently available types of financial information, viz, (i) Current accounts, (ii) Savings accounts, (iii) Term deposits and (iv) Recurring deposits.

3.3  This Policy will be revised in the event any additional categories of financial information are permitted by the RBI.

4. Review of this Policy

This Policy shall be reviewed at least annually, when significant regulatory changes occur to ensure its continuing suitability, adequacy, and effectiveness, or when Agya makes changes to its revenue model.

In the event of a conflict between the provisions of this Policy and relevant RBI regulations or other statutory enactments (the “RBI Regulations”), the provisions of such RBI regulations shall prevail over the conflicting provisions of this Policy. Further, the relevant provisions of the RBI regulations shall be deemed to be incorporated into this Policy, and this Policy should be read in tandem with the provisions of such RBI regulations. The Policy would be updated in due course to make it consistent with the applicable law.

Deviations from the standards / procedures specified in this Policy shall be permitted only with the written approval of the Board of Directors. However, an approval shall not be granted if a deviation results in breach of applicable law including any circular, direction, order or guidelines issued by the RBI.