Consolidated Account Statement covers stocks, mutual funds and NPS. Could insurance be next?

The Securities and Exchange Board of India ( SEBI ) is exploring options to provide investors with a more complete picture of their finances by incorporating insurance information into the Consolidated Account Statement (CAS), a combined statement of an investor’s mutual fund transactions and securities held in demat accounts.

“I have also written to the IRDAI (Insurance Regulatory and Development Authority of India) chairman to explore the inclusion of insurance information so that investors can have a financial ledger covering their investments,” Sebi Chairman Tuhin Kanta Pandey said on the sidelines of the Samvaad India Open Finance Summit 2026 on Thursday, PTI reported.

Earlier this month, the RBI said it will also facilitate SEBI-regulated depositories to include bank deposit information in CAS.

Here is what SEBI’s official communication on Pandey’s address at the Samvaad – India Open Finance Summit 2026 (Sahamati Annual Conference) reveals.

Explaining the need for a broader view of financial assets, Pandey said investors often have to gather information from multiple institutions before making major financial decisions.

Pandey explained, “An investor wishes to assess whether he has sufficient financial resources to make a new investment, purchase a house or plan for retirement. He may need to review his bank balances, mutual fund investments, equity holdings, and other financial commitments. All this information exists. But it may be spread across several institutions.”

He added that bringing this information together could help investors understand their liquidity, asset allocation and overall financial capacity.

SEBI introduced the CAS to provide investors with a consolidated view of their securities holdings. Over time, the electronic CAS (eCAS) mechanism has expanded to cover equities, mutual funds, debt securities and National Pension System (NPS) investments.

Pandey said, “eCAS now covers a broad range of financial assets, including equities, mutual funds, debt securities and NPS investments. This has made it easier for investors to track their investments through a single statement. The Account Aggregator framework offers an opportunity to take this approach further.”

The Account Aggregator framework enables secure, consent-based sharing of financial information with regulated financial institutions. According to Pandey, it can reduce paperwork and the need for repeated document submissions, thereby making financial services more efficient.

In lending, it can help assess borrowers with limited credit histories. In personal finance, it can help individuals track income, expenses, savings, and investments. It can also support better assessment of insurance needs and enable investment advice based on an investor’s overall financial position rather than isolated investments.

SEBI has enabled depositories and asset management companies, through their registrars and transfer agents, to participate as Financial Information Providers (FIPs).