RBI Allows Interoperability Among Account Aggregators
What happened
Reserve Bank of India Governor Sanjay Malhotra announced a move to allow interoperability among NBFC Account Aggregators. This means different Account Aggregators can now work together to create a more connected system for sharing financial data. The goal is to make the process seamless for customers, similar to how UPI functions.
From indiatimes.com
Why it matters
The move enhances the digital financial ecosystem by allowing platforms to work together without requiring customers to create separate accounts. This connectivity improves the ability of financial institutions to access customer financial records with consent.
From indiatimes.com
Who's involved
- Sanjay MalhotraGovernor of the Reserve Bank of India who announced the policy change
- Reserve Bank of IndiaThe central bank of India implementing the new financial connectivity policy
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- PaytmSpeculative
Paytm could enhance platform connectivity and user experience, potentially boosting sales and demand.
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The entities involved
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Sanjay Malhotra
governor of the Reserve Bank of India (RBI)
Related events
- RBI Governor Sanjay Malhotra announced new financial initiatives on October 7, 2026.
- RBI meetings were chaired by the Governor.
- RBI appoints Sanjay Malhotra as Governor while West Asia conflict drives up food and fuel prices.
- Sanjay Malhotra is the governor of the Reserve Bank of India, the central bank of India.
- RBI Governor Sanjay Malhotra addressed the fintech industry at the Global Fintech Fest, guiding India's financial ecosystem.