The Reserve Bank of India announced on October 7, 2026, that it will implement interoperability among Non-Banking Financial Company-Account Aggregators (NBFC-AA) by December 31, 2026. This move aims to enhance customer convenience by allowing individuals to access and share their financial information across different Financial Information Providers through any NBFC-AA of their choice, according to rbi.org.in.
The RBI's statement detailed that this interoperability will enable customers to consolidate their financial data seamlessly. Additionally, depositories regulated by the Securities and Exchange Board of India will be allowed to include bank deposit account information in the Consolidated Account Statement (CAS) via NBFC-AAs. This integration will help demat account holders view both their demat holdings and bank deposits in one place. Customers without demat accounts will also benefit by obtaining a consolidated financial view through NBFC-AAs, rbi.org.in said.
This regulatory update is significant as it addresses the fragmentation in financial data access and sharing, which has been a challenge for customers seeking holistic views of their finances. The RBI’s initiative aligns with broader efforts to digitize financial services and improve transparency. The inclusion of bank deposit information in CAS is expected to streamline investment tracking and financial planning for retail investors, enhancing the utility of NBFC-AAs in India’s evolving financial ecosystem, per rbi.org.in.
The RBI also announced the constitution of a Technical Consultative Committee for Financial Markets to engage with market participants on policy and operational matters. The interoperability measures and the committee’s formation are set to be implemented and operationalized by December 31, 2026, marking a key milestone in India’s financial regulatory framework, rbi.org.in confirmed.