RBI decides to implement Account Aggregator interoperability and establish a Technical Advisory Committee for financial markets

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Highlights

RBI has decided to implement interoperability among all NBFC-Account Aggregators by December 31, 2026.
SEBI-regulated depositories will now be able to include bank deposit account information in CAS through NBFC-AAs, enabling a consolidated financial view.
RBI has decided to establish a Technical Advisory Committee for the money, government securities, foreign exchange, and derivatives markets.

This article was translated from the original. Read the original version by our correspondent here.

Changes to the Account Aggregator framework by December 2026

According to the Reserve Bank of India (Reserve Bank of India), in a press release on developmental and regulatory policies dated October 7, 2026, it was decided to implement interoperability among NBFC-Account Aggregators, allowing customers to access and share their financial information across different Financial Information Providers through any NBFC-AA of their choice. The move is intended to enhance customer convenience.

Additionally, depositories regulated by the Securities and Exchange Board of India will be allowed to use NBFC-AAs to include information related to bank deposit accounts in the Consolidated Account Statement, or CAS. This will allow demat account holders to view information related to their demat holdings and bank deposit accounts in one place.

RBI said that customers without demat accounts will also continue to be able to obtain and share a consolidated view of their financial information through NBFC-AAs. Both measures are expected to be implemented by December 31, 2026.

A structured consultation mechanism for financial markets

Against the backdrop of rapidly evolving financial markets and market infrastructure, the Reserve Bank has also decided to establish a Technical Advisory Committee for financial markets. The committee will serve as a platform for structured dialogue with market participants and other stakeholders on policy and operational issues concerning the money market, government securities market, foreign exchange market, related derivatives markets, and associated infrastructure.

The committee’s composition and terms of reference will be notified separately. This initiative indicates that the central bank aims to formalize operational coordination, market feedback, and policy consultation within the digital and multi-layered financial market framework.

Our previous report focused on the RBI’s Monetary Policy Committee (MPC) October policy decision, which discussed a potential repo rate hike amid rising retail inflation, crude oil prices exceeding $100 per barrel, and pressure on the rupee. The report also noted that the rate decision could affect borrowing costs, bank lending rates, and signals regarding the future policy direction.

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