Key Details
At the SAMVAAD India Open Finance Summit on 15 October 2026, SEBI Chairman Tuhin Kanta Pandey described how existing investment statements and the Account Aggregator framework could be used to give investors a fuller view of their finances.
Area | Current Position or Proposed Step |
|---|---|
Electronic Consolidated Account Statement (eCAS) | Already brings together information on equities, mutual funds, debt securities and National Pension System investments |
Bank deposits | SEBI is working to include deposit information in eCAS through the Account Aggregator framework |
Investment data | SEBI is working to make additional fields on mutual funds and securities holdings available for consent-based sharing |
Ecosystem participation | As of August 2026, around 48 SEBI-regulated entities participated as Financial Information Providers and 378 entities as Financial Information Users |
Interoperability | SEBI welcomed RBI’s recent announcement; the ability to share information seamlessly across different Account Aggregators remains subject to implementation |
The Next Step Is a View Across Banking and Investments
An investor may hold deposits, shares, mutual funds and retirement savings with different institutions. SEBI’s eCAS already reduces some of that fragmentation for investments. Adding bank-deposit information would extend the view beyond securities, helping investors see liquid savings alongside longer-term holdings when assessing their overall financial position.
Pandey presented this as work in progress, not a new eCAS feature available today. The speech also did not announce a timetable for adding deposits.
Account Aggregators Provide the Sharing Route
An Account Aggregator enables a person to authorise the sharing of financial information held by one regulated institution with another authorised institution. The institution supplying the information is a Financial Information Provider; the one receiving it for an authorised purpose is a Financial Information User. The framework is intended to let investors share information with explicit consent, rather than repeatedly submit statements themselves.
SEBI has enabled depositories and asset-management companies, through their registrars and transfer agents, to supply demat-holding and mutual-fund information through this route. It is now examining which additional data fieldswould make that information more useful. The participation figures show that institutions have joined the ecosystem; they do not show how widely investors use it or whether it has improved their decisions.
Interoperability Would Reduce Friction Between Aggregators
RBI’s announced move towards Account Aggregator interoperability is relevant because an investor’s information may sit with providers connected through different aggregators. Once implemented, interoperability could make consent-based sharing less dependent on those particular connections. Pandey also stressed that wider sharing requires accurate, timely data, consent that people understand, use limited to the authorised purpose, and effective grievance redressal.
Policy Relevance
The prospective change is not simply a longer account statement. Bringing deposits and investments into one viewcould make financial planning and advice more informed, provided the information is sufficiently complete and current.
It also raises a practical governance question for SEBI, RBI and participating institutions: as more data become shareable, investors need to know exactly what they are permitting, who receives it and how errors or misuse can be corrected. Sahamati can support common operating standards, but institutional participation alone is not a measure of investor benefit.
Relevant Question for Policy Stakeholders: Before bank deposits are added to eCAS, what standards will ensure that the information is accurate and current, and that investors can understand, control and challenge its use?
Follow the Full Speech Here: SEBI Chairman’s Address at the SAMVAAD India Open Finance Summit 2026