<p><a href="https://www.mid-day.com/business/business-news/article/reserve-bank-of-india-raises-fy27-gdp-forecast-to-71-per-cent-by-40-basis-points-23653830" target="_blank" rel="none noopener">The Reserve Bank of India (RBI)</a> on Wednesday said it will facilitate interoperability among NBFC-Account aggregators to enhance customer convenience.&nbsp;</p>
<p>The initiative will enable customers to access and share their information across different financial service providers through any account aggregator of their choice.</p>
<p>"We are allowing inter-operability among NBFC Account Aggregators, enabling aggregation of financial information through all account aggregators from one account aggregator. We are also facilitating SEBI regulated depositories to include information related to deposit accounts in their consolidated account statement (CAS)," RBI Governor Sanjay Malhotra said during his monetary policy statement</p>
<p>This will allow <a href="https://www.mid-day.com/business/business-news/article/demat-account-a-simple-guide-to-your-first-step-in-stock-investing-23644631" target="_blank" rel="none noopener">demat account holders</a> to view information on their demat holdings and bank deposit accounts at one place in the CAS, he said.</p>
<p>"Customers, including those who do not have demat accounts, can continue to obtain a consolidated view of their financial information and share the same through the NBFC Account aggregators also.&nbsp;</p>
<p>Both measures aim to enhance customer convenience and are expected to be implemented by December 31, 2026.</p>
<h2>Who are account aggregators?</h2>
<p>Account Aggregators are NBFCs engaged in the business of providing the service of retrieving or collecting financial information pertaining to the customer.&nbsp;</p>
<p>No financial information of the customer is retrieved, shared or transferred by Account Aggregators framework without the explicit consent of the customer, according to Department of Financial Services.&nbsp;</p>
<p>An Account Aggregator transfers data from one financial institution to another based on an individual's instruction and consent. As of March 31, 2026, the RBI has granted Certificate of Registration to 17 companies as Account Aggregators.</p>
<h2>Technical Consultative Committee</h2>
<p>Malhotra further said that the central bank has decided to constitute a Technical Consultative Committee for Financial Markets in response to the rapidly evolving financial market dynamics.</p>
<p>The committee will serve as a forum for structured engagement with market participants and stakeholders by the Reserve Bank on policy and operational matters related to money, government securities and foreign exchange markets as well as the respective derivative markets and infrastructure.&nbsp;</p>
<p>The composition and the terms of reference for the Technical Consultative Committee shall be separately notified, RBI said.</p>
<h2>RBI repo rate hike</h2>
<p><a href="https://www.mid-day.com/business/business-news/article/rbi-mpc-rbi-hikes-repo-rate-to-55-per-cent-rules-out-rate-cuts-in-near-term-23653790" target="_blank" rel="none noopener">The RBI has increased its key lending rate or the repo rate to 5.5 per cent</a>, a rate hike after nearly four years. It had last increased the rates in February 2023 to 6.50 per cent and had then kept the rate unchanged through 2023-24 before beginning its rate-cut cycle in 2025. The apex bank had kept the repo rate unchanged for four consecutive policy meetings at 5.25 per cent, since December 2025.&nbsp;</p>

This will enable  customers to access and share their information across different financial service providers

RBI to enable interoperability among Account Aggregators by December

Several PSU banks hike lending rates after RBI raises repo rate by 25 basis points

The initiative will enable customers to access and share their information across different financial service providers through any account aggregator of their choice

RBI to enable interoperability among Account Aggregators: RBI Governor Sanjay Malhotra

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