CAS May Soon Evolve Into A Single Statement Covering All Financial Assets

As per news reports, SEBI, RBI, and other financial regulators are exploring the idea of turning the Consolidated Account Statement (CAS) into a single statement. The proposal aims to provide investors with a consolidated view of bank deposits, mutual fund investments, pension savings, insurance policies and other holdings.

How Has The Current CAS Evolved Over Time?

At present, investors receive a monthly CAS showing mutual fund investments, stock holdings, and National Pension System (NPS) accounts. The CAS is issued by SEBI-registered depositories, National Securities Depository Limited (NSDL) and Central Depository Services Ltd (CDSL), and delivered via email.

The NPS was recently added to the CAS. In August 2023, the Pension Fund Regulatory and Development Authority (PFRDA) included NPS details in the statement. Earlier, CAS covered only demat accounts and mutual fund investments, leaving out other financial assets.

Proposed Expansion of CAS

The proposed unified CAS could provide a comprehensive view of an individual’s finances. This may include savings accounts, provident fund balances, insurance policies, bond holdings, and even outstanding loans. Investors may have the option to receive this complete statement or continue with the current system.

Technology to Enable Consolidation

Integrating data from multiple regulators is complex but possible using technology such as application programming interfaces (APIs). Information could be linked to an investor’s Permanent Account Number (PAN), allowing them to access all financial details in one place.

A unified CAS would simplify tracking of assets, provide better insights into overall net worth, and help investors make informed financial decisions more easily.

How the Current e-CAS Works

Currently, e-CAS provides details of demat holdings, mutual funds, and NPS accounts. It also shows portfolio value changes over the past year and current balances. However, banking, insurance, and loan information still requires separate platforms.

Read more: EMI Calculator: Buying a ₹2 Lakh Bike on a ₹50,000 Salary? Here is How It Can Work.

Conclusion

Expanding CAS into a single statement covering all financial assets could transform the way investors track their finances. While regulatory and technical challenges remain, a unified statement would bring greater transparency, convenience, and clarity to personal financial management.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.