RBI unveils two steps to ease access to financial data
In short
The RBI announced two measures to make financial information easier to access.
It will allow account aggregators to work together and add bank deposit details to consolidated account statements, and it mentioned a new financial markets committee. The reporting does not say what the committee will do or when these changes begin.
What the reporting says
The RBI announced two measures to ease access to financial information, based on publisher summaries. It will allow interoperability among account aggregators and enable bank deposit details in consolidated account statements, alongside a new financial markets committee. The immediate effect is broader data access for users, while the reporting does not explain the committee’s mandate or timing.
Why it matters
The reported measures include interoperability among account aggregators, bank deposit details in consolidated statements, and a new financial markets committee. These changes affect users of financial data and the wider account aggregator system. The reporting does not state the committee’s purpose, membership, or whether the measures are already in force.