Pine Labs arm Setu gets RBI approval to take full control of account aggregator Agya
Pine Labs’ fintech infrastructure unit Setu has received Reserve Bank of India approval to acquire 100% of account aggregator Agya Technologies, strengthening its play in regulated data-sharing as lenders and financial platforms push for faster, consent-based underwriting.
Deal boosts presence in regulated data-sharing rails
Digital payments and merchant services platform Pine Labs has secured regulatory clearance for a key expansion move: its fintech infrastructure subsidiary Setu has received approval from the Reserve Bank of India (RBI) to acquire full ownership of account aggregator Agya Technologies. The development was disclosed through a regulatory filing, and it allows Setu to raise its stake to 100%.
Account aggregators sit at the centre of a consent-based framework that enables individuals to share financial data securely with banks, lenders and fintech platforms. As India’s lending ecosystem increasingly relies on alternative and real-time data to price risk and approve credit faster, regulated pipes for data-sharing have become a strategic asset rather than a back-end utility.
For Pine Labs, the RBI nod is a signal that the company wants to build deeper capabilities beyond payments by controlling infrastructure that can support underwriting, onboarding and distribution of financial products. In practical terms, it may help Setu integrate account aggregation more tightly into its product stack for partners looking to reduce friction in credit journeys.
The acquisition is expected to be completed soon, according to the report, and industry watchers will track how the combined entity expands partnerships, improves compliance tooling and competes in a segment where trust, consent architecture and uptime matter as much as scale.