The Reserve Bank of India (RBI) on Wednesday announced measures to improve customer convenience by enabling interoperability among NBFC-Account Aggregators (NBFC-AAs).
Under the proposed framework, customers will be able to access and share their financial information across different financial service providers through any NBFC-Account Aggregator of their choice, removing the need to rely on a specific aggregator.
The RBI will also facilitate SEBI-regulated depositories to include bank deposit account information in the Consolidated Account Statement (CAS), providing investors with a more comprehensive view of their financial assets in a single statement.
The measures were announced by RBI Governor Sanjay Malhotra while unveiling the central bank’s bi-monthly monetary policy.