Consolidated account statement shows less than you own

What is a consolidated account statement?

A consolidated account statement, or CAS, is one document that lists a person's demat holdings and mutual fund units together. It is sent by a depository, the institution that holds shares and bonds in electronic form. India has two, NSDL and CDSL.

CDSL's FAQ explains where it came from. The 2014 Interim Budget announced the idea of one record for every individual's financial assets. SEBI circular CIR/MRD/DP/31/2014 of 12 November 2014 then told the depositories to issue the statement, starting from March 2015.

The statement groups everything by PAN, the tax number every investor holds. If one PAN has demat accounts at both depositories, CDSL says the depository where the earlier account was opened is the default sender.

Source: CDSL, CAS FAQ, page last updated 13 July 2020, read on 8 October 2026.

What does the statement list today?

As of 8 October 2026, the CAS covers three things, according to Business Standard's 7 October report. Mutual fund and demat transactions come together under one PAN. Retirement savings in the National Pension System have also been added. E-insurance accounts appear when the details sit in the National Insurance Repository.

The same report says the statement carries the current value of investments, returns, and the expenses and commissions paid on mutual fund investments. It goes to the registered email address of the holder. Bank deposits are not in it.

CDSL's FAQ gives the rhythm. A month with any transaction in any demat account or mutual fund folio produces a statement. A month with none produces a holdings-only statement every six months, with the March and September positions sent in April and October.

Source: Business Standard, 7 October 2026, read on 8 October 2026.

What did the RBI change?

The RBI will facilitate depositories regulated by Sebi in showing bank deposit account information in the CAS, using NBFC account aggregators. An account aggregator is an RBI-licensed intermediary. It moves a person's financial data from the institution that holds it to the one that asks, and only with the person's consent.

Business Standard quotes the RBI: demat account holders will "view information relating to their demat account holdings and bank deposit accounts at one place in the CAS". Customers without demat accounts will be able to get a consolidated view too and share it through the aggregators.

Two limits are on the record. Governor Sanjay Malhotra said the information will come first from banks already onboarded, with the rest brought in over a period of time. And both aggregator measures, including the interoperability one, are expected to be in place by 31 December 2026.

Business Standard's second report adds that customers could see the monthly statement with deposits from 1 January. That date comes from the outlet's reporting, and the RBI has not stated it.

Source: Business Standard, 7 October 2026, read on 8 October 2026.

How do you read it, line by line?

A statement helps only when you check it against what you believe you own. Five checks take ten minutes.

Check 1: Is every demat account in it?

The statement lists transactions and holdings across demat accounts held with CDSL and NSDL. Count your accounts and count the ones on the page. A missing account usually means a PAN mismatch or an old email on the depository participant's record.

Check 2: Do the mutual fund folios match?

CDSL says the statement covers fund units held in statement-of-account form with the fund's registrar, alongside demat holdings. Units held only in demat form do not produce a CAS, and the depository participant sends an ordinary transaction statement instead.

Check 3: Did you get a statement this month, and if not, why?

No transactions means a holdings-only statement every six months. A month without a statement is normal for a holder who made no transactions. A month without one after a purchase is not.

Check 4: Does the total match your own number?

Add up what you think you hold in each category, then compare with the statement. A gap of a few percent can be a price date. A gap of an entire holding is a missing account.

Check 5: What is the password, and who else can open it?

CDSL says the e-statement opens with the PAN of the first holder in capital letters. Anyone who holds the file and knows your PAN can open it, so forward it with that in mind.

What does it still leave out?

Take a ₹1 crore portfolio split four ways: ₹42 lakh in demat shares, ₹30 lakh in mutual fund units, ₹18 lakh in bank deposits and ₹10 lakh in crypto. These figures are illustrative, not a recommended split.

As of 8 October 2026, the statement shows 42 + 30 = ₹72 lakh, which is 72 percent of the portfolio. Once deposits arrive, it shows 42 + 30 + 18 = ₹90 lakh, which is 90 percent. The remaining ₹10 lakh, 10 percent, appears on no line.

The RBI announcement names demat holdings and bank deposit accounts. Crypto is not named, and the announcement says nothing about what may be added later.

The risk in a better statement is that it reads as complete. A document that covers 90 percent of a portfolio gets treated as the whole picture, and the missing 10 percent drops out of the review. An investor who reads the CAS monthly should keep a separate line for everything outside it, with a value and a date read.

What belongs on the separate line?

Crypto held on a platform sits outside the depository system, so its record comes from the platform. Qatobit publishes live Proof of Reserves, a live, verifiable record of all crypto assets Qatobit holds on behalf of users. Our guide to reading a proof of reserves attestation covers what such a record proves and what it does not.

Two more habits help. Write down each platform, the date of the last statement you downloaded from it, and the value shown. And when the aggregator consent screen appears, read which accounts and which data you are sharing before you accept.

How the statement fits a larger portfolio

The statement shows what the depositories hold. It does not tell you how much of a portfolio each category should be. For that question, see how much of my portfolio should be in crypto and does crypto belong in a long-term portfolio. For the record side, see how to read a proof of reserves attestation.

The next question in this cluster is what a holder does with consent once an account aggregator asks for it: which accounts, for how long, and how to withdraw it.

Frequently asked questions

What is a consolidated account statement?

A consolidated account statement, or CAS, is one statement from a depository listing a holder's demat holdings and mutual fund units under one PAN. NSDL and CDSL are the two depositories that send it.

Will bank deposits appear in the CAS?

The RBI said on 7 October 2026 that Sebi-regulated depositories can include bank deposit details in the CAS through NBFC account aggregators, with the measures expected by 31 December 2026. Banks already onboarded come first, and the rest follow over time.

Does the CAS include crypto?

The announced change names demat holdings and bank deposit accounts and does not name crypto. Crypto held on a platform needs its own record from that platform.

How often is the CAS sent?

CDSL says a month with any demat or mutual fund transaction produces a statement. A month with none produces a holdings-only statement every six months, with March and September positions sent in April and October.

Who can see my bank deposit details through an account aggregator?

An account aggregator moves data only with the customer's consent, according to Business Standard's description of the framework. The consent screen names the accounts and data being shared, so read it before accepting.

Crypto investments are subject to market risk. Not financial advice.