RBI Allows Interoperability Between Financial Account Aggregators
· Business · Indian Express, Times of India
The Reserve Bank of India has permitted interoperability among NBFC account aggregators, enabling users to consolidate financial information from multiple sources into a single statement. This move, announced on October 7, 2026, aims to simplify how individuals track deposits and investments across various financial institutions. Governor Sanjay Malhotra stated that the central bank is also facilitating SEBI-regulated depositories to include information related to deposit accounts in consolidated account statements. These measures are scheduled for implementation by December 31, 2026. Account aggregators act as secure bridges for banking data, allowing lenders to access information for faster loan disbursements while managing user consent.
Why it matters
This policy change will significantly reduce the administrative burden on Indian investors by providing a unified view of their financial holdings, making it easier to manage personal finances and access credit.
Read the original report — Indian Express
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