The Reserve Bank of India has directed that bank deposits be included in Consolidated Account Statements by December 31, 2026. This move, supported by the Account Aggregator framework, aims to provide investors with a unified view of their financial wealth and simplify asset tracking.
The Reserve Bank of India (RBI) has announced a significant shift in how personal financial data is reported, mandating the inclusion of bank deposits in Consolidated Account Statements (CAS). This directive, confirmed on October 7, 2026, requires financial institutions to implement these changes by December 31, 2026. This change transforms the CAS from a securities-focused report into a broader financial dashboard for individual investors.
A Unified View of Financial Assets
For years, retail investors have maintained separate views of their wealth: demat accounts for stocks and mutual funds, and individual bank apps for savings and fixed deposits. By integrating bank deposit data into the CAS, the regulator intends to eliminate the fragmented nature of asset tracking. This consolidation will allow investors to see their entire portfolio—ranging from equity holdings to bank deposits—in one place. For investors, this can simplify tasks such as reconciling interest income for tax filings, checking the nominee status of term deposits, and identifying dormant or forgotten accounts that may have been overlooked.
The Role of Account Aggregators
This initiative relies on the existing Account Aggregator (AA) framework. By leveraging this system, the RBI is enabling secure, consent-based data sharing. The regulator has also introduced a mandate for interoperability between different NBFC-Account Aggregators. This means that a customer will have the flexibility to use their preferred aggregator to view and share data across various financial providers, rather than being locked into a single ecosystem. This level of interoperability is designed to reduce technical friction, making it easier for information to flow securely between commercial banks and central depositories.
Implementation and Security Considerations
While the goal is to provide a comprehensive view of wealth, the shift brings specific challenges that investors and institutions must navigate. The technical integration between various banks and depositories needs to be finalized before the year-end deadline. Because the system relies on the transfer of sensitive financial data, the integrity of the process depends heavily on how user consent is managed and how the data is encrypted.
Investors should also note that the precise definition of which deposit types—such as savings versus recurring or fixed deposits—will be eligible for this view is still being finalized. Market participants are currently waiting for further detailed circulars from the regulator that will outline the technical protocols and the scope of information sharing. The success of this initiative will likely depend on how effectively these institutions can bridge the technical gap while maintaining strict data privacy standards.