Account aggregators to work with each other; bank deposits to show in CAS
Alongside the October rate hike, RBI said account aggregators will become interoperable, bank deposits can appear in your demat CAS, and a new financial markets committee will be set up.
Official title: Statement on Developmental and Regulatory Policies October 7, 2026 · Press Release 2026-2027/1265
What happened
This statement lists the extra, non-rate measures announced with the October 7, 2026 policy. The first concerns account aggregators (NBFC-AAs), RBI-licensed apps and companies that, with your consent, fetch your financial information from banks, insurers and others and share it with whoever you choose, such as a lender. Today you can only pull data from institutions that are linked to the aggregator you use. RBI will now make aggregators interoperable, so you can reach information held across different institutions through any one aggregator of your choice.
Second, depositories regulated by SEBI (NSDL and CDSL, which hold your shares in electronic form) will be able to include your bank deposit account details in the Consolidated Account Statement (CAS) they send you, fetched through account aggregators. So demat account holders can see their investments and bank deposits in one place. People without demat accounts can still get a combined view through account aggregators. Both changes are expected to be in place by December 31, 2026.
Third, RBI will set up a Technical Consultative Committee for Financial Markets. It is a forum for RBI to consult banks, traders and other market participants on policy and operational matters in money markets, government bonds, foreign exchange and the related derivative markets. Its members and terms of reference will be announced separately.
What it means for you
If you use an app that pulls together your bank and investment details, you should soon be able to see accounts from more institutions without signing up to several aggregators. If you hold a demat account, your CAS may also show your bank deposits once this is in place, expected by December 31, 2026. Sharing through account aggregators always needs your consent.
What it means for businesses
Lenders, wealth platforms and fintechs that use account aggregator data should get wider coverage through a single aggregator, which can speed up loan underwriting. Account aggregators and depositories need to build the links by December 31, 2026. Market participants get a formal channel to give RBI feedback through the new committee.
Read the original
Press release on rbi.org.in ↗ Official PDF ↗
This explainer simplifies the official text. If anything here differs from the RBI's release, the release is right.