Pine Labs Share Price Today: Global payments technology company Pine Labs shares were in demand on Wednesday after the Reserve Bank of India (RBI) announced measures to enhance customer convenience through the Account Aggregator (AA) framework. The stock rose as much as 6.88% to hit an intraday high of Rs 184.65 per share on the BSE.
At 12:11 pm, Pine Labs shares were trading 5.53% higher at Rs 182.30 per share. In comparison, the BSE Sensex was trading 0.25% lower at 72,888 levels.
The uptick in Pine Labs shares came after the RBI announced that it will implement inter-operability among NBFC-Account Aggregators (NBFC-AAs), a move aimed at making it easier for customers to access and share their financial information across different financial information providers.
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RBI Account Aggregator Framework: What Has RBI Announced?
The RBI said inter-operability among NBFC-AAs will allow customers to access and share their financial information across different Financial Information Providers through any NBFC-AA of their choice.
The move is aimed at enhancing customer convenience by making the Account Aggregator ecosystem more interoperable and accessible.
The RBI has also decided to facilitate SEBI-regulated depositories to include information related to bank deposit accounts in their Consolidated Account Statement (CAS) through NBFC-AAs.
This would allow demat account holders to view information related to their demat account holdings and bank deposit accounts at one place through the CAS.
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.
The RBI said both measures are expected to be implemented by December 31, 2026.
Why Is RBI's Account Aggregator Move Important?
The interoperability framework is aimed at reducing friction for customers by allowing financial information to be accessed and shared through an NBFC-AA of their choice, rather than limiting the process to a particular Account Aggregator ecosystem.
The inclusion of bank deposit information in the Consolidated Account Statement could also provide customers with a more consolidated view of their financial assets across banking and capital-market holdings.
RBI Sets Up Technical Consultative Committee For Financial Markets
Separately, the RBI has decided to constitute a Technical Consultative Committee for Financial Markets against the backdrop of rapidly evolving financial markets and infrastructure.
The committee will provide a structured forum for engagement between the RBI and market participants on policy and operational matters related to money markets, government securities, foreign exchange markets, derivatives markets and related infrastructure.
The composition and terms of reference of the committee will be notified separately.
Last month, Pine Labs announced an extension of its technology partnership with Woolworths Group.
Through its Qwikcilver subsidiary, Pine Labs powers the technology platform supporting Woolworths' gift card programmes.
The expanded partnership will focus on enhanced platform capabilities, deeper API integrations and support for new digital stored-value experiences across physical and digital channels.
Pine Labs said the partnership will build on its existing technology platform and support the evolution of Woolworths' gift card experiences across both physical and digital formats.
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