Your FDs, stocks and mutual funds in one statement: 5 ways RBI’s CAS move can help you

The Reserve Bank of India (RBI) is expanding the scope of the Consolidated Account Statement (CAS), potentially giving investors a single view of their bank deposits, mutual funds, stocks and other securities. The move could make it easier for households to track their wealth, reconcile taxes and identify financial accounts they may have overlooked.

On Wednesday, RBI Governor Sanjay Malhotra said the central bank was facilitating Sebi-regulated depositories to include information related to deposit accounts in CAS. The measure is expected to be implemented by December 31, 2026.

1. Get a clearer picture of your net worth

One of the biggest benefits could be the ability to view different parts of a financial portfolio together. Currently, an investor may have fixed deposits across several banks, mutual funds with different fund houses and shares in a demat account.

Once deposit information is incorporated, the CAS could provide a consolidated view of these holdings, making it easier to understand how much money is invested in equities, mutual funds and debt or deposits.

For households with FDs spread across three or four banks, this could significantly simplify portfolio tracking.

2. Make tax reconciliation easier

Interest earned on FDs and other deposits contributes to taxable income. Investors often have deposits across multiple banks, making it difficult to keep track of the interest earned during a financial year.

A consolidated view of deposits could make it easier to cross-check interest income against Form 26AS and the Annual Information Statement (AIS) while filing income-tax returns.

However, the CAS should be treated as an additional reconciliation tool rather than a replacement for 26AS or AIS.

3. Check nomination details

CAS already provides information on nomination status for investments covered by it. If deposit information is added, customers could potentially identify whether their FDs have nomination details recorded.

This can be particularly useful for families with multiple deposits across banks.

A nominee does not become the legal owner of an FD merely by being named as nominee. However, nomination can help facilitate the transfer or settlement of the deposit after the account holder’s death.

4. Review and rebalance your portfolio

A consolidated statement can also make portfolio review easier. An investor may discover that too much money is sitting in FDs while equity exposure is low, or vice versa.

Having deposits and market investments visible together can help investors assess their overall asset allocation rather than reviewing each investment separately.

5. Spot unfamiliar accounts or deposits

A consolidated financial statement can also serve as an early warning mechanism. If an investor sees an account, deposit or holding that they do not recognise, it can prompt them to investigate possible errors, outdated records or unauthorised activity.

However, several operational details are still awaited. The RBI’s reference to “deposit accounts” leaves open whether the facility will cover only fixed deposits or also savings accounts and other deposits. Details on coverage, consent, privacy safeguards and which banks will be included will depend on the final implementation framework.

The RBI’s move, therefore, is more than a reporting change. By bringing deposits closer to the existing CAS framework, it could give households a more comprehensive view of their financial assets in one place.