{"id":292164,"date":"2026-10-07T12:40:33","date_gmt":"2026-10-07T07:10:33","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=292164"},"modified":"2026-10-07T12:40:33","modified_gmt":"2026-10-07T07:10:33","slug":"rbi-technical-consultative-committee-financial-markets-account-aggregator-cas","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/","title":{"rendered":"RBI Technical Consultative Committee for Financial Markets: Why the RBI Set Up a Panel to Deepen Market Engagement, the Account Aggregator and Consolidated Account Statement Changes Announced With the Rate Hike and What They Mean"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>7 Oct RBI statement: Technical Consultative Committee for Financial Markets. NBFC-AA interoperability, bank deposits in CAS by 31 Dec 2026. Terms to follow.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">RBI Technical Consultative Committee for Financial Markets is a new forum, announced in the Statement on Developmental and Regulatory Policies on 7 October 2026, that will give the RBI structured engagement with market participants and stakeholders on policy and operational matters in the money, government securities and foreign exchange markets, their derivatives and market infrastructure. Its composition and terms of reference are still to be notified, so it is not yet clear who will sit on it or how often it will meet. The same statement said that NBFC account aggregators will become interoperable and that depositories regulated by SEBI will be able to include bank deposit information in the consolidated account statement, so demat holders can see holdings and bank deposits in one place, with both measures expected by 31 December 2026. The timing matters because the RBI has just raised the repo rate, the rupee is near 96.5 and bond yields are volatile, so a formal channel for market feedback has practical value.<\/p>\n<\/p><\/div>\n<p>RBI Technical Consultative Committee was one of the quieter announcements on a day dominated by the 25 bps repo rate hike, but it signals how the central bank wants to work with markets during a tightening cycle.<\/p>\n<p>If you work in markets or invest through demat accounts, this article covers what the new financial markets committee is, what the RBI said about the money market, government securities, foreign exchange and derivative markets and market participants, why the RBI may want it now, what the NBFC-AA and CAS changes due by 31 December 2026 mean for investors including CDSL and NSDL account holders, what remains unknown and what to watch.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#RBI_Technical_Consultative_Committee_and_Other_Measures_Announced_on_7_October\" title=\"RBI Technical Consultative Committee and Other Measures Announced on 7 October\">RBI Technical Consultative Committee and Other Measures Announced on 7 October<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#What_the_RBI_Technical_Consultative_Committee_Will_Do\" title=\"What the RBI Technical Consultative Committee Will Do\">What the RBI Technical Consultative Committee Will Do<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#Why_the_RBI_May_Want_the_RBI_Technical_Consultative_Committee_Now\" title=\"Why the RBI May Want the RBI Technical Consultative Committee Now\">Why the RBI May Want the RBI Technical Consultative Committee Now<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#Account_Aggregator_and_CAS_Changes_Beside_the_RBI_Technical_Consultative_Committee_What_They_Mean_for_Investors\" title=\"Account Aggregator and CAS Changes Beside the RBI Technical Consultative Committee: What They Mean for Investors\">Account Aggregator and CAS Changes Beside the RBI Technical Consultative Committee: What They Mean for Investors<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#What_We_Do_Not_Know_About_the_RBI_Technical_Consultative_Committee\" title=\"What We Do Not Know About the RBI Technical Consultative Committee\">What We Do Not Know About the RBI Technical Consultative Committee<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#Risks_and_Limits_of_the_RBI_Technical_Consultative_Committee\" title=\"Risks and Limits of the RBI Technical Consultative Committee\">Risks and Limits of the RBI Technical Consultative Committee<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#What_to_Watch_Next_for_the_RBI_Technical_Consultative_Committee\" title=\"What to Watch Next for the RBI Technical Consultative Committee\">What to Watch Next for the RBI Technical Consultative Committee<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#What_is_the_RBI_Technical_Consultative_Committee\" title=\"What is the RBI Technical Consultative Committee?\">What is the RBI Technical Consultative Committee?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#When_was_it_announced\" title=\"When was it announced?\">When was it announced?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#Who_will_be_on_the_committee\" title=\"Who will be on the committee?\">Who will be on the committee?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#What_did_the_RBI_say_about_account_aggregators\" title=\"What did the RBI say about account aggregators?\">What did the RBI say about account aggregators?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#What_is_changing_in_the_consolidated_account_statement\" title=\"What is changing in the consolidated account statement?\">What is changing in the consolidated account statement?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#Does_this_affect_CDSL_and_NSDL\" title=\"Does this affect CDSL and NSDL?\">Does this affect CDSL and NSDL?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#Will_the_financial_markets_committee_change_interest_rates\" title=\"Will the financial markets committee change interest rates?\">Will the financial markets committee change interest rates?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/rbi-technical-consultative-committee-financial-markets-account-aggregator-cas\/#Does_the_RBI_Technical_Consultative_Committee_affect_my_investments\" title=\"Does the RBI Technical Consultative Committee affect my investments?\">Does the RBI Technical Consultative Committee affect my investments?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"RBI_Technical_Consultative_Committee_and_Other_Measures_Announced_on_7_October\"><\/span><strong>RBI Technical Consultative Committee and Other Measures Announced on 7 October<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Measure<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">What the RBI said<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Timeline<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Technical Consultative Committee for Financial Markets<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">A forum for structured engagement with market participants and stakeholders on policy and operational matters in money, government securities and foreign exchange markets, derivatives and infrastructure<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Composition and terms of reference to be notified separately<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">NBFC-AA interoperability<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Customers can access and share financial information from different providers through any NBFC account aggregator of their choice<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Expected by 31 December 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Bank deposits in the CAS<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Depositories regulated by SEBI will be facilitated to include bank deposit information in the consolidated account statement through NBFC-AAs<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Expected by 31 December 2026<\/td>\n<\/tr>\n<\/table>\n<p>These measures are described in the RBI&#8217;s Statement on Developmental and Regulatory Policies, which accompanied the policy rate decision. The measures reported here are those I could verify, and the statement may contain others.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Check the Univest Screener for live data on bond-sensitive and market infrastructure stocks<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_the_RBI_Technical_Consultative_Committee_Will_Do\"><\/span><strong>What the RBI Technical Consultative Committee Will Do<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>Act as a financial markets committee forum for structured two-way engagement between the RBI and market participants.<\/li>\n<li>Cover the money market, the government securities market and the foreign exchange market.<\/li>\n<li>Cover the respective derivative markets and the market infrastructure that supports them.<\/li>\n<li>Discuss policy and operational matters, which suggests technical feedback on rules, products and settlement.<\/li>\n<li>Work within terms of reference and membership that the RBI will notify later.<\/li>\n<\/ol>\n<p>A consultative committee advises and does not decide, so the RBI keeps the final say over what the RBI Technical Consultative Committee recommends, but regular feedback can improve how rules are designed.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_the_RBI_May_Want_the_RBI_Technical_Consultative_Committee_Now\"><\/span><strong>Why the RBI May Want the RBI Technical Consultative Committee Now<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Factor<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Reading<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Why it matters for market engagement<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rate cycle<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Repo rate raised to 5.50%, stance calibrated tightening<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Market feedback helps with liquidity and transmission<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rupee<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 96.5 per dollar<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Forex market functioning needs close dialogue<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Bond yields<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">US 10-year near 5.3%, with Indian yields tracking global moves<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Government securities demand and pricing are sensitive<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Foreign flows<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Record foreign equity selling of about Rs 2.7 lakh crore in 2026<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Participation in debt and currency markets matters<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Market structure<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Fast-evolving products and infrastructure<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Derivatives and clearing need regular technical review<\/td>\n<\/tr>\n<\/table>\n<p>This is my analysis of why the timing of the RBI Technical Consultative Committee is useful and not a reason the RBI has stated. The RBI said only that the committee is meant for a rapidly evolving market and infrastructure.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track the rupee, bond yields and bank stocks live.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Account_Aggregator_and_CAS_Changes_Beside_the_RBI_Technical_Consultative_Committee_What_They_Mean_for_Investors\"><\/span><strong>Account Aggregator and CAS Changes Beside the RBI Technical Consultative Committee: What They Mean for Investors<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Change<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Who benefits<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">What it does<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Interoperability among NBFC-AAs<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Customers<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Share data from any provider through any account aggregator they choose, which removes lock-in to one aggregator<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Bank deposits in the consolidated account statement<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Demat account holders<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">See demat holdings and bank deposit accounts in one statement<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Access without a demat account<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Other customers<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Can still get a consolidated view through NBFC-AAs<\/td>\n<\/tr>\n<\/table>\n<p>Separately from the RBI Technical Consultative Committee, for CDSL and NSDL the CAS change is a service extension and not a revenue event, but it raises their role in personal finance data. Both depositories are due to report Q2 results in the coming weeks.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_We_Do_Not_Know_About_the_RBI_Technical_Consultative_Committee\"><\/span><strong>What We Do Not Know About the RBI Technical Consultative Committee<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>Who will chair it and who will be on it.<\/li>\n<li>How often it will meet and whether its minutes will be published.<\/li>\n<li>Whether it replaces or complements earlier advisory committees on money, forex and government securities markets.<\/li>\n<li>What specific issues it will take up first, such as derivatives, benchmarks or settlement.<\/li>\n<li>When the notification with composition and terms of reference will come.<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Risks_and_Limits_of_the_RBI_Technical_Consultative_Committee\"><\/span><strong>Risks and Limits of the RBI Technical Consultative Committee<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Advisory only:<\/strong> The RBI Technical Consultative Committee has no decision-making power.<\/p>\n<p><strong>Unclear mandate:<\/strong> Without terms of reference, the impact of the RBI Technical Consultative Committee cannot be judged.<\/p>\n<p><strong>Implementation delay:<\/strong> The account aggregator and CAS measures depend on technical work by 31 December 2026.<\/p>\n<p><strong>Privacy and security:<\/strong> More data sharing raises consent and cyber-security questions.<\/p>\n<p><strong>Limited market effect:<\/strong> None of these measures changes interest rates or liquidity directly.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_to_Watch_Next_for_the_RBI_Technical_Consultative_Committee\"><\/span><strong>What to Watch Next for the RBI Technical Consultative Committee<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>The RBI notification of the committee&#8217;s membership and terms of reference.<\/li>\n<li>The first meeting and any published summary.<\/li>\n<li>SEBI and depository circulars on the CAS change.<\/li>\n<li>Updates from account aggregators on interoperability.<\/li>\n<li>Market feedback on liquidity and forex measures in the coming policy cycle.<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The RBI Technical Consultative Committee for Financial Markets will give the RBI a structured forum with market participants on money, government securities and forex markets, with its composition and terms of reference still to come. The same statement adds account aggregator interoperability and bank deposits in the CAS by 31 December 2026. Consult a SEBI-registered advisor before making any decision.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_RBI_Technical_Consultative_Committee\"><\/span><strong>What is the RBI Technical Consultative Committee?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The RBI Technical Consultative Committee for Financial Markets is a new forum for structured engagement with market participants on money, government securities and forex markets and their derivatives and infrastructure.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"When_was_it_announced\"><\/span><strong>When was it announced?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The RBI Technical Consultative Committee was announced on 7 October 2026 in the RBI&#8217;s Statement on Developmental and Regulatory Policies, alongside the repo rate hike.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Who_will_be_on_the_committee\"><\/span><strong>Who will be on the committee?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The composition and terms of reference of the RBI Technical Consultative Committee will be notified separately.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_did_the_RBI_say_about_account_aggregators\"><\/span><strong>What did the RBI say about account aggregators?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> NBFC account aggregators will become interoperable so that customers can share information through any aggregator they choose, expected by 31 December 2026.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_changing_in_the_consolidated_account_statement\"><\/span><strong>What is changing in the consolidated account statement?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Depositories can include bank deposit information in the CAS through NBFC-AAs, so demat holders see holdings and deposits together.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Does_this_affect_CDSL_and_NSDL\"><\/span><strong>Does this affect CDSL and NSDL?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It extends their service role, but it is not a direct revenue event.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Will_the_financial_markets_committee_change_interest_rates\"><\/span><strong>Will the financial markets committee change interest rates?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. The RBI Technical Consultative Committee is advisory and focuses on market engagement and operations.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Does_the_RBI_Technical_Consultative_Committee_affect_my_investments\"><\/span><strong>Does the RBI Technical Consultative Committee affect my investments?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This article does not constitute investment advice. The effect of the RBI Technical Consultative Committee is indirect. Consult a SEBI-registered financial advisor.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the RBI Technical Consultative Committee?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The RBI Technical Consultative Committee for Financial Markets is a new forum for structured engagement with market participants on money, government securities and forex markets and their derivatives and infrastructure.\"}},{\"@type\":\"Question\",\"name\":\"When was it announced?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The RBI Technical Consultative Committee was announced on 7 October 2026 in the RBI's Statement on Developmental and Regulatory Policies, alongside the repo rate hike.\"}},{\"@type\":\"Question\",\"name\":\"Who will be on the committee?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The composition and terms of reference of the RBI Technical Consultative Committee will be notified separately.\"}},{\"@type\":\"Question\",\"name\":\"What did the RBI say about account aggregators?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"NBFC account aggregators will become interoperable so that customers can share information through any aggregator they choose, expected by 31 December 2026.\"}},{\"@type\":\"Question\",\"name\":\"What is changing in the consolidated account statement?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Depositories can include bank deposit information in the CAS through NBFC-AAs, so demat holders see holdings and deposits together.\"}},{\"@type\":\"Question\",\"name\":\"Does this affect CDSL and NSDL?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It extends their service role, but it is not a direct revenue event.\"}},{\"@type\":\"Question\",\"name\":\"Will the financial markets committee change interest rates?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. The RBI Technical Consultative Committee is advisory and focuses on market engagement and operations.\"}},{\"@type\":\"Question\",\"name\":\"Does the RBI Technical Consultative Committee affect my investments?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This article does not constitute investment advice. The effect of the RBI Technical Consultative Committee is indirect. Consult a SEBI-registered financial advisor.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>RBI Technical Consultative Committee will give markets a structured forum. See the account aggregator and CAS changes announced with the rate hike.<\/p>\n","protected":false},"author":38,"featured_media":292163,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[9460,9461,9462,9463,5365,9459],"class_list":["post-292164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-account-aggregator","tag-consolidated-account-statement","tag-financial-markets","tag-rbi-developmental-policies","tag-rbi-policy","tag-rbi-technical-consultative-committee"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["292163"],"rank_math_title":["RBI Technical Consultative Committee: Deeper Market Engagement"],"rank_math_description":["RBI Technical Consultative Committee will give markets a structured forum on money, G-sec and forex issues. See the account aggregator and CAS changes too."],"rank_math_focus_keyword":["RBI Technical Consultative Committee"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/rbi-technical-consultative-committee-for-financial-markets-why-the-rbi-set-up-a.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/292164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=292164"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/292164\/revisions"}],"predecessor-version":[{"id":292165,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/292164\/revisions\/292165"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/292163"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=292164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=292164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=292164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}