Deadline for the 2 account aggregator changes
Your bank deposits can now show up in your demat statement
Besides the rate hike, the RBI announced 2 new measures on October 7.
1. One statement for all your money.
An account aggregator (AA) is an RBI-licensed NBFC that moves your financial data from where it sits (your bank, your fund house) to whoever you want to share it with (a lender, an app), and only with your consent. Until now, what you could pull depended on which banks and fund houses your AA was connected to. The RBI is now making AAs work with each other, so any AA you pick can reach all of them.
That opens the door to the second part. NSDL and CDSL already send demat holders a consolidated account statement (CAS) listing their shares and mutual funds. Through the AAs, they can now add your bank deposits to it. So your investments and your bank balance can sit in one document. Both changes are due by December 31, 2026.
2. A new markets committee. The RBI will set up a Technical Consultative Committee for Financial Markets, a standing forum which will bring together banks, traders and other market players on the money, government bond and forex markets, and their derivatives.
It is a good example of the RBI responding to rapidly evolving markets, since it has been a busy year: the rupee moved between ₹92 and ₹97 per dollar from April to September, and government bond yields rose from mid-August.