Bank deposits to feature in CAS from January 1, but gaps remain

The Securities and Exchange Board of India's decision to integrate bank deposits into the Consolidated Account Statement represents a significant step toward providing investors with unified visibility of their financial portfolios. From the new year, the CAS—which currently aggregates equity holdings, mutual funds, and insurance policies—will add bank deposit information to the statement.

The inclusion aims to address a long-standing gap in the investor statement ecosystem, enabling individuals to access a more complete picture of their financial assets in one place. The move simplifies record-keeping and allows investors to track their savings accounts, fixed deposits, and recurring deposits alongside other investments in a single consolidated document.

Despite this expansion, financial advisors note that certain asset classes remain absent from the CAS framework. Gold holdings, real estate investments, bonds issued by non-regulated entities, and cryptocurrency transactions are among the financial instruments that will continue to fall outside the consolidated statement. Additionally, deposits held across multiple banks may require separate tracking depending on integration status across banking channels.

Experts recommend that investors maintain their own comprehensive financial inventory alongside the CAS to ensure complete awareness of their financial position. The banking deposit integration is expected to be rolled out progressively, with full implementation across all banks anticipated over the coming months.