The RBI has directed implementation of interoperability among NBFC-Account Aggregators (NBFC-AAs), enabling customers to seamlessly access and share financial data across providers. The move enhances data portability and strengthens the Account Aggregator (AA) framework.
RBI Announces Interoperability Among NBFC Account Aggregators
The Reserve Bank of India (RBI) has announced measures to enhance customer convenience by implementing interoperability among Non-Banking Financial Company–Account Aggregators (NBFC-AAs). As per the statement dated October 7, 2026, this development allows individuals to access and share their financial information across different Financial Information Providers (FIPs) through any NBFC-AA of their choice.
The move builds on the existing Account Aggregator (AA) framework, aimed at simplifying consent-based data sharing in financial ecosystems. By enabling interoperability, the RBI promotes competition, improves user experience, and reduces dependency on a single AA platform. The integration extends to depositories regulated by the Securities and Exchange Board of India (SEBI), enhancing cross-sectoral data flow between banking, capital markets, and credit institutions.
Practitioners must note that this regulatory shift supports broader digital financial inclusion and aligns with evolving data governance norms, including the Digital Personal Data Protection Act, 2023. Entities operating in fintech, data management, or customer onboarding must ensure compliance with consent protocols and interoperability standards to avoid regulatory scrutiny or service disruptions.