RBI allows interoperability among Account Aggregators
In short
The RBI allowed Account Aggregators to work with each other on Wednesday.
This should make it easier for people to share bank statements, mutual fund details, and insurance records with lenders and other institutions. The report does not say when the change fully takes effect or which firms are most affected.
What the reporting says
The RBI permitted interoperability among Account Aggregators on Wednesday to improve financial data sharing, according to a publisher summary. The change lets different Account Aggregators work together so consumers can share bank statements, mutual fund details and insurance records with institutions using consent. The source does not say when the wider rollout starts or which providers are directly affected.
Why it matters
The Reserve Bank of India opened up interoperability among Account Aggregators, making consent-based financial data sharing easier for consumers. The summary says people can share bank statements, mutual fund details and insurance records with institutions through the network. This matters for banks, mutual funds and insurance-related data flows, but the source does not name any companies or give implementation details.