The Reserve Bank of India (RBI) today announced a series of developmental and regulatory measures aimed at enhancing customer convenience and strengthening engagement with participants in financial markets. Under the Account Aggregator framework, the RBI has decided to introduce interoperability among NBFC-Account Aggregators (NBFC-AAs). The move will allow customers to access and share their financial information across different Financial Information Providers through any NBFC-AA of their choice.
The RBI has also facilitated SEBI-regulated depositories to include bank deposit account information in their Consolidated Account Statements (CAS) through NBFC-AAs. This will enable demat account holders to view information on their demat holdings and bank deposits at a single place.
Customers without demat accounts will also continue to be able to obtain a consolidated view of their financial information and share it through NBFC-AAs.
Both measures are expected to be implemented by December 31, 2026. Separately, the RBI has decided to constitute a Technical Consultative Committee for Financial Markets amid the rapid evolution of financial markets and related infrastructure.
The committee will provide a structured platform for engagement between the RBI and market participants and stakeholders on policy and operational matters relating to money, government securities and foreign exchange markets, along with their respective derivative markets and infrastructure.
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