RBI's Sanjay Malhotra says CAS will cover deposits and securities
The Reserve Bank of India, or RBI, is making it easier to keep track of your money by updating its Consolidated Account Statement (CAS).
RBI is working to expand CAS so it can include bank deposit account information alongside securities.
RBI Governor Sanjay Malhotra shared this update, aiming to give individuals with bank deposits and securities a more comprehensive view of their financial assets.
CAS unifies deposits and securities
With the new CAS, you will not have to juggle different statements to see where your money is. It is just a simpler way to check your bank deposits and securities at once.
Your deposits stay with your bank, but now you get the full picture together.
This move is all about helping people manage their money more smartly and making financial information more transparent for individuals with bank deposits and securities holdings.