“We are also facilitating SEBI-regulated depositories to include information related to deposit accounts in their consolidated account statement (CAS),” RBI Governor Sanjay Malhotra said while announcing the bi-monthly monetary policy decision.
The RBI said the measure will be operational by December 31, 2026, allowing Demat account holders to view information on their bank deposits alongside securities, equity and debt holdings in a single consolidated statement, making it easier to manage their finances.
The move will allow customers to access and share their financial information across different financial service providers through any NBFC-Account Aggregator (NBFC-AA), instead of being restricted to a particular account aggregator.
Customers who do not have demat accounts will also continue to be able to obtain a consolidated view of their financial information and share it through NBFC-AAs.
Additionally, the RBI will constitute a Technical Consultative Committee for Financial Markets against the backdrop of rapidly evolving financial markets and infrastructure. The committee will provide a forum for structured engagement with market participants and other stakeholders on policy and operational matters relating to money, government securities and foreign exchange markets, as well as their respective derivatives markets and infrastructure.
“The Committee will serve as a forum for structured engagement with market participants and other stakeholders on policy and operational matters related to financial markets,” Malhotra said.The composition of the committee and its terms of reference will be notified separately.
RBI MPC meet outcome
RBI Governor Malhotra announced that the Indian central bank’s Monetary Policy Committee (MPC) after a detailed assessment of the evolving macroeconomic and financial conditions, developments, and the outlook, voted unanimously to increase the policy repo rate by 25 basis points to 5.5%. STF rate stands adjusted at 5.25%, and the marginal standing facility rate and the bank rate to 5.75%.
“The MPC noted that the global context, on account of geopolitical developments, remains challenging. Nonetheless, the Indian economy has been strong, and the economic momentum remains broad based.
Moreover, the economy is expected to remain resilient,” Malhotra said.
What lies ahead for Indian stock market?
With crude prices remaining firm and inflationary pressures continuing to linger, the RBI’s decision to hike repo rates was largely anticipated, said Dnyanada Vaidya, Research Analyst – BFSI, Axis Direct. “We expect another 25 bps rate hike to follow in the next MPC meeting. The regulator increased its growth forecast by 40 bps to 7.1% for FY27, while continuing inflationary pressures prompted the RBI to increase the inflation forecast to 5.2% vs 5% earlier,” he noted.
The RBI’s 25 bps repo rate hike to 5.50%, coupled with the shift to a calibrated tightening stance, signals a meaningful change in the policy cycle, said Ajit Mishra, SVP, Research – Religare Broking. While the hike itself was largely expected, the change in stance is the more important takeaway, indicating that inflation risks are now taking greater precedence, he noted.
“We expect the near-term market impact to remain selective, with rate-sensitive pockets facing pressure, while banks with stronger balance sheets and liability franchises should remain relatively better placed,” he added.
Also read | Sensex falls over 200 points, Nifty below 22,700 as RBI hikes rate by 25 bps. What lies ahead?
Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.
