Stories
SEBI Developing Enhanced Consolidated Account Statement for Investors
- •SEBI is working on proposed changes to the consolidated account statement to give investors a unified view of stocks, mutual funds, bank deposits, and insurance policies.
- •SEBI Chairman Tuhin Kanta Pandey announced that a working group is examining the framework and a consultation paper will be issued soon.
- •SEBI has contacted the IRDAI to include insurance details, while depositories CDSL and NSDL will gain access to bank deposit information on a consent basis.
- •India's unique investor base has grown fourfold to 150 million, with projections suggesting mutual fund investors could reach 24 to 26 crore in a decade.
- •SEBI plans to expand its investor awareness programs beyond the current 13 languages to reach remote areas and help prevent investment frauds.
Key Questions Answered
SEBI is working on changes to the consolidated account statement to give investors a comprehensive view of their stocks, mutual funds, bank deposits, and insurance policies. A working group is currently examining these proposals, and a consultation paper will be issued soon.
Following an announcement by the RBI, depositories like CDSL and NSDL will gain access to bank deposit information on a consent basis. Additionally, the framework facilitates including bank savings and fixed deposits through the Account Aggregator system.
The number of unique investors has expanded fourfold to reach 150 million, including 6.6 crore unique mutual fund investors. Growing at a compound annual growth rate of 14 to 15%, this base is projected to reach 24 to 26 crore in a decade.
