Clearing Corporation of India Limited (CCIL) Joins Account Aggregator Ecosystem as FIP

23 Feb 2024

The Clearing Corporation of India Limited (CCIL) has joined the Account Aggregator ecosystem as a Financial Information Provider (FIP). CCIL will integrate Retail Direct Gilt account data with the network.

The RBI Retail Direct Scheme, launched on November 12, 2021, empowers retail investors to invest in Government Securities seamlessly through Retail Direct Gilt accounts. This initiative has simplified and democratized investment in government securities for retail investors. Let’s take a look at the statistics of the scheme:

  • Total Accounts Opened: The scheme has witnessed an impressive uptake with a total of 1,14,886 accounts opened.
  • Primary Market Subscriptions: Retail investors have subscribed to Government Securities worth ₹3,897.66 Crores across various categories such as Central Govt. Dated Securities, State Government Securities, Treasury Bills, Sovereign Gold Bond, and Floating Rate Savings Bond.
  • Total Holdings: The cumulative holdings of retail investors in Government Securities stand at a substantial ₹1,986.39 Crores.
  • Sovereign Gold Bond Holdings: Retail investors have accumulated Sovereign Gold Bonds with a total holding of 644.96 kilograms.

The availability of Retail Direct Gilt Accounts via AAs provides consumers with a comprehensive overview of personal finances. This also enables investment advisors to undertake a holistic assessment of consumer risk appetite and preferences to offer tailored investment advice.

The onboarding of CCIL in the AA ecosystem as FIP marks another step towards data empowerment, enabling consumers to consolidate, control, and own their financial information.

Find the notification from RBI here.
(The RBI Retail Direct statistics are taken from the official website and can be found here.)