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RBI Oct MPC additional measures: Account aggregator interoperability, deposit statements, markets panel

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RBI Oct MPC additional measures: Account aggregator interoperability, deposit statements, markets panel

RBI Oct MPC additional measures: Account aggregator interoperability, deposit statements, markets panel

Indian central bank announced three additional measures, including interoperability among NBFC account aggregators, inclusion of bank deposits in consolidated account statements and a technical consultative committee for financial markets.

RBI to allow interoperability among NBFC account aggregators, enabling users to access financial information across account aggregators through a single onboarding

RBI to facilitate inclusion of bank deposit accounts in consolidated account statements

RBI to constitute a Technical Consultative Committee for Financial Markets for structured engagement with market participants and stakeholders

The Reserve Bank of India Governor Sanjay Malhotra on Wednesday announced three additional measures aimed at improving interoperability among account aggregators, expanding the scope of consolidated account statements and strengthening engagement with financial market participants. The RBI will allow interoperability among NBFC account aggregators , enabling users to aggregate financial information across account aggregators by onboarding with only one account aggregator, Governor Sanjay Malhotra said while announcing the October monetary policy decision. “There are a number of account aggregators, and we are now allowing interoperability among these NBFC account aggregators, which will enable aggregation of financial information for the various users to all account aggregators by onboarding on only one account aggregator,” Malhotra said. Advt

The central bank will also facilitate semi-regulated depositories to include information related to deposit accounts in the consolidated account statement. “Therefore, people should now going forward be getting a consolidated statement not only related to securities and debts, but also deposit accounts from the bank,” Malhotra said.


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