RBI to merge bank deposits and demat holdings in single statement from Jan 1

Demat account holders will receive a single statement showing both bank deposits and demat investments starting January 1. The RBI will add deposit data to the Consolidated Account Statement (CAS) to give consumers a clear view of all assets. Governor Sanjay Malhotra said the move will help people track their finances and stop deposits from being lost or left unclaimed. The central bank also plans to make account aggregators interoperable, so data can flow smoothly between different platforms. This step follows RBI’s push for greater transparency and easier financial management for retail investors.

Context

The Consolidated Account Statement is a periodic report that lists an investor’s holdings across depositories. By merging bank deposit details, the RBI aims to simplify financial oversight for individuals who hold both cash and securities.