RBI Account Aggregator Interoperability: What Changes for You
RBI wants Account Aggregators to work with each other and bank deposits in your CAS by Dec 2026. Here is what it means for sharing your data safely.
What RBI announced
On 7 October 2026, alongside its monetary policy decision, the Reserve Bank of India released a Statement on Developmental and Regulatory Policies. Two of the measures are about Account Aggregators (AAs), the licensed intermediaries that let you share your financial data with a lender, advisor or app, but only with your consent.
The two measures, in plain words:
- Interoperability between NBFC-Account Aggregators. You should be able to access and share your financial information from different banks and other institutions through any AA of your choice, instead of being tied to the one a particular app happens to use.
- Bank deposits in your Consolidated Account Statement (CAS). The RBI is helping SEBI-regulated depositories add bank deposit account details to the CAS. If you have a demat account, you would see your holdings and bank deposits together. People without a demat account can still get a consolidated view and share it through AAs.
The RBI says both are expected to be implemented by 31 December 2026. So this is a target, not something that has switched on today.
Why this matters for ordinary households
Most of us have money scattered around: a salary account, a savings account from an old job, a fixed deposit or two, maybe mutual funds or shares. Getting the full picture usually means logging into four apps or downloading four statements.
Account Aggregators were built to reduce exactly that friction. Today, the consent-based data sharing works, but which institutions you can connect depends partly on which AA a service uses. Interoperability is meant to remove that limitation, so one onboarding gives you reach across the system.
A simple example
Meera, 29, in Pune, has a salary account, an old savings account and a fixed deposit of ₹1.5 lakh. When she applies for a ₹4 lakh personal loan, the lender asks for six months of statements. With a well-working AA setup she gives consent once, the lender fetches the data directly, and she can see and withdraw that consent later. No PDFs, no screenshots.
What stays the same
- Your consent is required. An AA cannot hand your data to anyone without your approval, and you choose what to share and for how long.
- AAs don't store or read your data in the way an app might; they carry it from the institution that holds it to the one you have approved.
- Nothing in this statement changes your loan rates, deposit rates or bank charges.
What to watch for next
Three things are worth keeping an eye on between now and December:
- Your bank and app announcements. Interoperability only helps once the institutions you use are connected, so look for notices from your bank, broker or the apps you use.
- Scam attempts riding on the news. Whenever a new data-sharing feature is announced, fraudsters call pretending to "activate" it. Neither the RBI nor your bank will ask for your OTP, card PIN or UPI PIN to enable it.
- The fine print on purpose. A lender needs your statements to judge a loan, not to market other products to you. If the stated purpose is vague, ask before approving.
If you rarely use data-sharing today, there is nothing you must do right now. Simply knowing how consent works puts you in a better position when the feature reaches your accounts.
Practical takeaways
- Read every consent request. Check who is asking, which accounts, what data, and for how long. Decline if the purpose is unclear.
- Know how to revoke. Your AA app lets you see active consents and withdraw them. Review them every few months.
- Don't share OTPs or PINs. A genuine consent flow asks you to approve inside a regulated AA app, never to read an OTP to a caller.
- Use the consolidated view for planning. Once deposits show up next to other holdings, add them up once a quarter and see how much is idle cash versus savings with a purpose.
- Wait for the rollout. Features depend on banks and depositories finishing their work, so expect gradual availability rather than a single day.
This is general information, not financial advice.
How Dhuddu helps
A consolidated view of your accounts is useful, but day-to-day money habits still come from knowing where each rupee goes. Dhuddu is a free expense tracker for India: it can pick up bank alerts from Gmail, import bank and card statements, and show your spending, budgets and bills in one place. You can also get it on Google Play.