Summary of this article
RBI will allow customers to access financial data through a single Account Aggregator
Bank deposit details will be included in Consolidated Account Statements through NBFC-AAs
The measures are expected to be implemented by December 31, 2026
The Reserve Bank of India (RBI) on October 7, 2026, announced measures to make it easier for customers to access and share financial information, including interoperability among account aggregators and the inclusion of bank deposit details in Consolidated Account Statements (CAS).
The measures are expected to be implemented by December 31, 2026.
Account Aggregators To Become Interoperable
The RBI will introduce interoperability among non-banking financial company Account Aggregators (NBFC-AAs). This will allow customers to access and share their financial information across different financial information providers through any NBFC-AA of their choice.
The move will also allow customers to aggregate their financial information through a single account aggregator instead of using multiple platforms.
“We are now allowing the interoperability amongst these NBFC account aggregators, which will enable aggregation of financial information for the various users through all account aggregators by onboarding on only one account aggregator,” RBI Governor Sanjay Malhotra said.
Account Aggregators act as a bridge between Financial Information Providers (FIPs) and Financial Information Users (FIUs). They enable the secure transfer of customers’ financial information between the two sides after obtaining the customer’s consent.
With interoperability, customers will not need to maintain relationships with multiple account aggregators to access financial information held across different providers.
Bank Deposits To Be Included In CAS
The RBI will also facilitate Securities and Exchange Board of India (Sebi)-regulated depositories to include information on bank deposit accounts in CAS through NBFC-AAs.
The move will allow demat account holders to view information on their securities holdings and bank deposits in one place through the CAS.
“This will enable demat account holders to view information relating to their demat account holdings and bank deposit accounts in one place in the CAS,” the RBI said.
Customers who do not have demat accounts will also be able to obtain a consolidated view of their financial information and share it through NBFC-AAs.
“Customers, including those who do not have demat accounts, can continue to obtain a consolidated view of their financial information and share the same through the NBFC-AAs also,” said the central bank.
The move could also help investors get a clearer picture of their overall wealth by bringing investments and bank deposits into the same view.
Gaurav Didwania, partner and fund manager at Qode Advisors, said the move could encourage investors to look at their wealth as a single portfolio rather than as separate investments.
“Bringing bank deposits into the same consolidated view is a meaningful next step. For most investors, cash sitting in a savings account, fixed deposits, equities, mutual funds and other investments are all part of the same pool of wealth, but they are rarely looked at together. Once you see everything in one place, the quality of the decisions changes. You can see how much of your wealth is actually invested, how much is sitting idle, where you are taking concentrated risk, and whether your overall allocation makes sense for your goals,” Didwania said.
He further added, “The bigger opportunity here is not simply a better statement. It is a shift in behaviour from managing investments individually to managing wealth as a whole. The more complete and interoperable this data becomes, the easier it is for investors to make decisions based on their actual financial position rather than on isolated accounts or products.”
Depositories hold investors’ securities such as shares, bonds and mutual fund units in dematerialised form. India has two Sebi-regulated depositories — National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL).
RBI Sets Up Financial Markets Committee
Additionally, the central bank also announced plans to constitute a Technical Consultative Committee for financial markets.
The committee will provide a forum for structured engagement with market participants and stakeholders on policy and operational matters relating to the money, government securities and foreign exchange markets. It will also cover their respective derivatives markets and infrastructure.
The RBI said the composition and terms of reference of the committee will be notified separately.
The announcements came alongside the RBI Monetary Policy Committee’s decision to raise the policy repo rate by 25 basis points to 5.50 per cent from 5.25 per cent.
