RBI to link account aggregators and add bank deposits to unified statements by year‑end

RBI will allow different non‑bank finance company account aggregators to work together and will add bank deposit details to consolidated account statements by Dec 31 2026, Governor Sanjay Malhotra announced during the monetary policy statement in Mumbai. The new framework will let individuals see all their assets on one screen instead of using about 15 separate aggregators. Data can be shared with insurance brokers, asset managers or investment advisers only after the customer gives consent. RBI will also ask SEBI‑regulated depositories to include bank deposits in the CAS, closing a gap that left deposit information out of the current view. Adding deposits will help families spot dormant accounts after a holder’s death and will make it easier for banks to use the data for credit scoring. Umesh Revankar, executive vice‑chairman of Shriram Finance Ltd, said the change will simplify sharing of financial information, deepen cash‑flow‑based underwriting and bring more first‑time borrowers into formal credit. He added that the move will push credit inclusion further into semi‑urban and rural areas, helping small truck operators, rural entrepreneurs and MSME borrowers. ## Context The effort ties together separate data silos that have limited consumers’ ability to manage money and limited lenders’ view of risk. By creating a single, consent‑based picture of assets, the RBI hopes to boost financial inclusion and reduce unclaimed deposits.