RBI Mandates Bank Deposit Details in Consolidated Account Statements by Year-End — October 7, 2026

In a significant reform aimed at simplifying wealth tracking and financial data management, the Reserve Bank of India (RBI) has unveiled measures permitting depositories registered with the Securities and Exchange Board of India (SEBI) to incorporate customer bank deposit details into their Consolidated Account Statements (CAS).

The directive, announced as part of the RBI's Statement on Developmental and Regulatory Policies alongside the October monetary policy review, is scheduled to take effect by the end of the calendar year.

Unified Portfolio View for Retail Investors

Presently, the Consolidated Account Statement provided by central depositories—National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL)—primarily aggregates dematerialised holdings, including listed equities, mutual fund units, and corporate or government debt instruments. Bank deposits, such as savings balances and term deposits, have traditionally required independent monitoring through individual banking applications or passbooks.

Under the forthcoming mechanism, depositories will leverage the Non-Banking Financial Company Account Aggregator (NBFC-AA) network to pull authorized bank deposit balances into the monthly statement. This integration provides investors with a comprehensive view of their liquid cash reserves alongside equity and fixed-income portfolios in a single document.

Account Aggregator Interoperability

Complementing the statement expansion, the central bank also authorized complete interoperability across NBFC Account Aggregators.

Until now, users frequently had to onboard multiple aggregator platforms depending on which financial entities were tied to a specific service. The new framework allows users to register with a single account aggregator of their choice to access and share data seamlessly across all participating financial institutions.

Key structural highlights of the central bank's rollout include:

• Integrated Reporting: Demat account holders will see their equity holdings, debt instruments, mutual fund portfolios, and bank deposit balances displayed side by side within their depository CAS.
• Single Onboarding: Users will no longer require registrations across different NBFC-AAs, as end-to-end interoperability will allow cross-provider information sharing through one aggregator.
• Timeline for Deployment: The technical guidelines and integration protocols are slated for implementation before the end of 2026.

Industry Impact and Market Outlook

The move represents another major step forward in India's open-banking and digital public infrastructure. Market analysts expect the seamless inclusion of bank deposits in depository statements to assist financial planners, streamline asset allocation tracking, and enable lenders to assess retail creditworthiness more quickly during underwriting processes.

The RBI indicated that operational directives and technical guidelines detailing data security protocols, depositor consent architecture, and technical workflows will be released ahead of the year-end rollout.

Tags: RBI SEBI NSDL CDSL Account Aggregator Banking Sector