RBI to enable interoperability among Account Aggregators
In short
The RBI said Account Aggregators will work together so users can share financial data more easily. People will be able to use any NBFC-AA to access their information.
Demat account holders will also be able to see bank deposit details in one statement. The report does not say when the change will begin.
What the reporting says
The RBI said it will enable interoperability among Account Aggregators and integrate bank deposits with demat CAS, according to the publisher-supplied summaries. Customers will be able to access and share financial information across different financial service providers through any NBFC-Account Aggregator, and demat account holders can view bank deposit details in consolidated statements. The reporting does not specify a rollout date or technical details.
Why it matters
The RBI plans to enable interoperability among Account Aggregators and connect bank deposit information with demat consolidated account statements. That would let customers access and share financial information through any NBFC-AA and see deposit details alongside demat holdings. The reporting does not say when this will launch or which institutions must change their systems.