RBI allows use of any Account Aggregator for data sharing
In short
The RBI said customers can use any NBFC Account Aggregator to access their financial information.
It also said demat account holders can see bank deposit details in one consolidated statement. This should make sharing financial data easier, but the reporting does not say when it starts or what limits may apply.
What the reporting says
The RBI allowed customers to use any NBFC Account Aggregator to access financial information, according to publisher summaries. The reported change also lets demat account holders view bank deposit details in consolidated statements. The immediate consequence is easier cross-platform data sharing, but the reporting does not state when the change takes effect or any limits on implementation.
Why it matters
The RBI’s move allows interoperability among NBFC Account Aggregators and gives demat account holders access to bank deposit details in consolidated statements. That affects customers who share financial data across platforms and the account aggregator ecosystem. The reporting does not state the rollout date, technical conditions, or any compliance details.