RBI to Authorise Inter-operability Among NBFC-AAs by December 2026
The Reserve Bank of India announced that it will enable inter-operability among Non-Banking Finance Company account aggregators (NBFC-AAs) by December 31, 2026. This transformative move allows individuals to access and share all their financial information through a single, unified platform, enhancing transparency and reducing information asymmetry. Furthermore, the RBI will facilitate SEBI's request to include bank deposit information in consolidated account statements (CAS). The initiative is designed to improve consumer convenience, promote responsible borrowing, foster financial inclusion, and accelerate the growth of digital financial services across the country.
Key Points
- RBI will implement inter-operability among NBFC-AAs by December 31, 2026.
- Individuals can access all financial assets through a single platform.
- SEBI's request to include bank deposit info in consolidated account statements will be facilitated.
- The measure aims to improve transparency, reduce regulatory friction, and promote financial inclusion.
Exam Facts
- Deadline for NBFC-AA inter-operability implementation is December 31, 2026.
- Announced by RBI Governor Sanjay Malhotra.
- Covers integration of bank deposit information into consolidated account statements (CAS).
Read it. Retain it. Recall it.
Daily MCQs with explanations, one-line fact cards and topic-wise accuracy. Free on Android, no ads.