Pine Labs shares gained as much as 6% on Wednesday after the Reserve Bank of India (RBI) announced plans to introduce interoperability among non-banking financial company Account Aggregators (NBFC-AAs). 

CAMS shares also rose more than 1% as investors viewed the move as positive for companies operating in India’s digital financial data ecosystem.

The RBI said the new framework will allow customers to access and share their financial information through any NBFC-AA of their choice. At present, customers may face friction when different financial institutions use separate Account Aggregator platforms. Interoperability is expected to reduce this fragmentation and make the system easier to use.

Under the revised framework, a customer registered with one Account Aggregator will be able to share financial information with regulated institutions connected through another aggregator, subject to the customer’s consent. 

The move could benefit digital lenders, banks, wealth platforms and other financial services companies that rely on consent-based financial data to offer products.

The RBI also announced that SEBI-regulated depositories will be able to include bank deposit information in their Consolidated Account Statements through NBFC-AAs. 

This will allow demat account holders to view their securities holdings and bank deposits in one place. Customers without demat accounts will also be able to obtain and share a consolidated view of their financial information through the Account Aggregator network.

The measures are expected to be implemented by December 31, 2026. The Account Aggregator ecosystem has already been expanding rapidly. As of August, 338.04 million accounts were linked to the framework, while 27.94 million new data-sharing consents were fulfilled during the month.

For Pine Labs and CAMS, greater interoperability could increase the usefulness and adoption of the Account Aggregator ecosystem. However, the actual financial impact will depend on how quickly regulated institutions adopt the framework and how effectively companies convert higher data connectivity into new financial services and customer activity.

At 1:20 pm, the shares of Pine Labs were trading 5.2% higher at Rs 181.80 on NSE.

The future of investing is here!
Tradz by EquityPandit leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app todayand 10x your trading & investing journey!