Stories
RBI Announces Major Move to Include Bank Deposits in Consolidated Account Statement
- •The Reserve Bank of India has announced measures to include bank deposit information in the Consolidated Account Statement for demat account holders.
- •Under the new framework, SEBI-regulated depositories will facilitate viewing demat holdings and bank deposits in one place using the NBFC Account Aggregator framework.
- •Customers without demat accounts can still use NBFC Account Aggregators to get a consolidated view of their financial information.
- •The RBI also enabled interoperability among NBFC Account Aggregators, allowing customers to securely share financial data across different providers with consent.
- •Both the interoperability measure and the inclusion of bank deposits in the CAS are expected to be implemented by December 31, 2026.
Key Questions Answered
The RBI has announced measures enabling SEBI-regulated depositories to include bank deposit account information, such as savings and fixed deposits, into the Consolidated Account Statement through the NBFC Account Aggregator framework. This allows demat account holders to view their securities holdings and bank deposits in a single statement.
Yes, customers without demat accounts can still get a consolidated view of their financial information and share it through NBFC Account Aggregators, as this remains separate from the CAS mechanism for demat holders.
Interoperability enables customers to access and share their financial information across different financial information providers through an NBFC-AA of their choice, rather than being restricted by connection limits.
