The Reserve Bank of India plans to broaden the scope of its Consolidated Account Statement by 2026, offering consumers a unified view of deposits, mutual funds, and equities, enhancing visibility and asset management.
The Reserve Bank of India is preparing to widen the Consolidated Account Statement so that it captures a fuller picture of household finances, with fixed deposits set to sit alongside mutual funds and equities in a single view by 31 December 2026, according to Business Today and Moneycontrol. The change would take the CAS beyond its current focus on securities and demat holdings, giving investors a cleaner snapshot of where their money is parked and how those assets are spread across banks and market-linked products.
For savers, the most immediate benefit would be visibility. A family that keeps fixed deposits with several banks, while also holding mutual funds and shares through separate institutions, could eventually see those positions together rather than hunting through multiple statements. Business Standard reported that the Reserve Bank is also pushing interoperability among non-banking financial company account aggregators, or NBFC-AAs, so customers can share financial data through a single provider of their choice. That infrastructure is expected to support the broader CAS expansion and make the system easier to use.
The same consolidated view could also make tax work less tedious. Interest on fixed deposits is taxable, and people with accounts scattered across banks often struggle to match what they earned with what appears in tax records. A CAS that includes deposit data would help investors compare those figures against Form 26AS and the Annual Information Statement when filing returns, although it would remain a supporting tool rather than a substitute for those official records. Business Today also noted that the statement could show nomination details, which may help families confirm whether deposits are properly designated for transfer in the event of the account holder’s death.
There is also a practical risk-management angle. Seeing deposits, mutual funds and stocks in one statement may help investors spot assets they had forgotten about, detect outdated records or identify entries they do not recognise. It could also prompt a wider review of asset allocation, especially for households that have allowed too much cash to accumulate in low-yield deposits. Even so, some key operational questions remain open, including whether the new framework will cover only fixed deposits or a wider range of deposit accounts, and what privacy and consent safeguards will apply.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
