Account Aggregator Interoperability by 31 December: Bank Deposits to Show in Your Demat CAS

By 31 December 2026, which is 84 days from today, RBI expects two changes to how your financial data moves. First, any account aggregator you use should be able to pull information through every other aggregator. Second, the Consolidated Account Statement (CAS) you get from the depositories can start showing your bank deposits next to your demat holdings. RBI announced both in its Statement on Developmental and Regulatory Policies on Wednesday 7 October.

What RBI announced on 7 October

The Statement on Developmental and Regulatory Policies (PR 2026-2027/1265) deals with the AA framework in its first paragraph. It covers three points:

The Governor’s statement (para 25) puts the first change more simply: “aggregation of financial information through all account aggregators from one account aggregator.”

Account aggregator basics in four lines

• An account aggregator (AA) is an NBFC licensed by RBI to carry your financial data from the institution that holds it (a Financial Information Provider, such as your bank) to the one that wants it (a Financial Information User, such as a lender), but only with your consent.
• You give consent for a specific purpose, for specific data, for a set period.
• The AA passes the data along. It is the courier, not the lender or the investment adviser.
• You can see your consents in the AA app you signed up with.

What interoperability changes for you

So far, the reach of each aggregator has depended on the providers connected to it. If your bank was on one AA and your insurer on another, a single consent from your app might not reach both. Under the new measure, the statement says you can reach providers “through any NBFC-AA of their choice”. One aggregator should then be enough to pull together your bank, deposit and other data, wherever each provider is connected.

Where you might notice it:

• Loan applications. A lender asking for six months of bank statements through an AA should not fail just because your second bank uses a different aggregator. Our guide to home loan eligibility by salary explains why lenders look at those statements.
• Tracking your money. Fewer apps to sign up for, and fewer consents to manage.
• Tax season. Having FDs from several banks in one view makes it easier to check interest before you decide on Form 15G/15H to avoid TDS.

Bank deposits in your CAS

Demat account holders already get a CAS from the depositories that lists shares and other holdings. Under the second measure, the CAS can also show your bank deposit information, pulled through an AA. Per the statement, this “will enable demat account holders to view information relating to their demat account holdings and bank deposit accounts at one place in the CAS.”

The statement says the depositories “are being facilitated” to do this, and both measures are “expected to be implemented by December 31, 2026”. It does not say the CAS will include deposits automatically, or without your consent. Given how the AA system works, expect a consent request before your deposits show up. That is our reading, not a line from RBI.

What is still not known

• RBI’s statement does not give the date on which AAs must be interoperable, beyond the year-end target, or whether it will issue amended directions first.
• The announcement does not describe how bank deposits will be laid out in the CAS, or which depository will offer it first.
• The statement does not say whether recurring deposits, current accounts and FDs will all appear, or only some of them.

We will update this piece once the operating instructions are out.

Safety: the consent screen matters more than before

Easier data-sharing also means a single careless “Approve” can reach more of your accounts. Before you approve a consent, read the purpose, the list of accounts, how often data will be fetched, and how long the consent lasts. Revoke any consent you don’t recognise. Lenders may also look at your credit report alongside this data; our explainer on checking your CIBIL score for free shows how to see what they see.

Here are short answers to the questions this announcement raises.

FAQ

Do I need to do anything before 31 December?

No action is required. The changes are for aggregators and depositories to implement.

Will my bank balance be shared without my permission?

The AA framework is built on your consent. Nothing in the 7 October statement removes that.

I don’t have a demat account. Does this affect me?

Only through interoperability. RBI says customers without demat accounts “can continue to obtain a consolidated view” through AAs.

Can I use more than one AA?

You can. After the change, one should be enough to reach providers connected to the others.

Takeaway: nothing changes for you today. Once your aggregator or depository announces the change, check the consent screen before you approve it.