Account Aggregator interoperability: RBI eases access to financial data
Why in the news
On 7 October 2026, RBI Governor Sanjay Malhotra announced two steps to make it easier for customers to access and share their financial information, along with a new advisory committee for financial markets.
Key facts
- AA interoperability: NBFC Account Aggregators will become interoperable, so a customer who signs up with just one AA can pull information through all AAs.
- Consolidated Account Statement (CAS): depositories regulated by SEBI will add bank deposit account details to the CAS, sourced through NBFC-AAs.
- Demat account holders will thus see securities holdings and bank deposits in a single statement.
- Customers without a demat account can also get a consolidated view of their finances and share it through NBFC-AAs.
- Deadline: both measures are to be implemented by 31 December 2026.
- Technical Consultative Committee for Financial Markets: a new RBI forum to consult market participants on policy and operational issues.
| Measure | Who implements | Timeline |
|---|---|---|
| Interoperability among AAs | NBFC Account Aggregators | By 31 Dec 2026 |
| Bank deposits in CAS | SEBI-regulated depositories via NBFC-AAs | By 31 Dec 2026 |
| Technical Consultative Committee for Financial Markets | RBI | Composition and terms of reference to be notified separately |
About the Technical Consultative Committee
The committee will engage with market participants on matters concerning the money market, government securities market, foreign exchange market and related derivatives. RBI will separately notify its membership and terms of reference.
Exam angle
- Account Aggregators operate as NBFCs (NBFC-AA) that let users aggregate and share financial information.
- Remember the 31 December 2026 deadline for both AA interoperability and CAS inclusion.
- CAS is issued by depositories, which are regulated by SEBI, not RBI.
- Current RBI Governor: Sanjay Malhotra.