Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey on Thursday, 15 October 2026, said the market regulator has formally approached the Insurance Regulatory and Development Authority of India (IRDAI) to include insurance-related data in consolidated account statements — a move designed to give investors a single, comprehensive window into their financial holdings.

What the Push Is About

Speaking on the sidelines of Sahamati's Annual Conference in Mumbai, Pandey said the initiative is part of a broader effort to provide investors with a unified view of their financial assets and liabilities. He noted that the account aggregator framework could be a critical enabler in stitching together data across multiple financial products, further extending the utility of consolidated statements.

Currently, investors can access details of their securities holdings, mutual fund investments, stock portfolios across brokers, and National Pension System (NPS) accounts through these consolidated statements. The proposed inclusion of insurance data would meaningfully expand that scope.

Bank Deposit Integration Also in the Works

Pandey added that SEBI is simultaneously working on incorporating bank deposit information into the consolidated framework, following the Reserve Bank of India's (RBI) decision to grant SEBI-regulated depositories continuous access to such data. The regulator is currently examining the technical requirements for this integration, according to the SEBI chief.

Together, the two additions — insurance and bank deposits — would allow investors to track a significantly broader range of financial assets in one place, facilitating more informed decision-making and holistic financial planning.

MDR Discussions with NPCI Ongoing

On the merchant discount rate (MDR) issue, Pandey said talks between SEBI and the National Payments Corporation of India (NPCI) are continuing following the recent deferment of the fee. When asked whether the regulator had made representations to NPCI on behalf of capital market participants, he indicated that discussions are still underway, without providing a timeline for resolution.

Investor Awareness and SLBM Review

Pandey also highlighted SEBI's ongoing investor education drive, saying the regulator has been using digital platforms and multilingual communication channels to reach audiences across the country. Over the past nine days, SEBI has reportedly disseminated nearly 440 million investor awareness messages.

Separately, he said SEBI is examining steps to strengthen the securities lending and borrowing mechanism (SLBM), which underpins short selling in capital markets. A working group constituted for this purpose has held multiple meetings and is evaluating various proposals, though no final recommendations have been announced yet.

Why This Matters for Investors

The move to integrate insurance and banking data into consolidated statements reflects a regulatory push toward financial data interoperability — a goal that the account aggregator ecosystem has been working toward since its launch. Notably, fragmented data across insurers, banks, and depositories has long been cited as a barrier to holistic financial planning for retail investors. If the IRDAI integration proceeds, India could move closer to a model where a single statement covers securities, mutual funds, NPS, insurance policies, and bank deposits — a significant step for financial inclusion and investor empowerment.