One statement for all your money? SEBI Chairman proposes unified statement for shares, deposits, insurance

India may soon move towards a single, consolidated financial statement that captures every asset an individual owns -- from equities and mutual funds to bank deposits and insurance policies. SEBI Chairman Tuhin Kanta Pandey said the proposal, if implemented jointly with other financial regulators, could become one of the most powerful investor-empowerment tools the country has ever created.

Pandey stressed that India’s fast-deepening capital markets now require a holistic view of household finances, not scattered data across multiple platforms.

A single dashboard for the entire financial universe

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Pandey said the idea is simple but transformative -- one statement that shows an individual’s entire financial footprint. At present, investors can already view a consolidated account statement for products regulated by SEBI, including equities, debt instruments and mutual funds held through depositories.

Banking, insurance and pension data, however, sit in their own silos. Integrating these datasets would give households a 360-degree snapshot of their wealth, enabling clearer financial planning and quicker decision-making.

Pandey described the concept as a “major empowerment tool” and said SEBI will take the proposal to the Inter-Regulatory Forum, where RBI, IRDAI, PFRDA and other regulators participate.

Why SEBI wants a unified financial-view system?

The SEBI chief said a consolidated statement would finally resolve long-standing inefficiencies in the financial ecosystem:

• Investors currently navigate fragmented systems to understand their actual net worth.
• Risk profiling remains inconsistent because intermediaries see only partial information.
• Families dealing with succession, tax planning and retirement often struggle with dispersed financial records.

A unified system could place India among the few markets globally offering such a comprehensive financial-asset view.

Simplifying onboarding: SEBI plans changes to KYC and AOF norms

Pandey also confirmed that SEBI is examining a proposal to allow intermediaries access to supplementary Account Opening Form (AOF) details via KYC Registration Agencies (KRAs). This would help eliminate repetitive document submissions that investors currently face even after completing KYC, making onboarding far more seamless across brokers, mutual funds, and alternative investment funds.

Markets expanding faster than ever: SEBI highlights deepening participation

Pandey noted that India’s capital markets have expanded significantly:

• Demat accounts have crossed 21 crore, up from four crore in FY19.
• The unique investor count has risen to about 13.6 crore.
• India’s market capitalisation has surged to around 134 per cent of GDP, from 81 per cent in FY15.
• Mutual fund assets have grown from 9 per cent of GDP to over 23 per cent.

He added that SEBI is reviewing major regulations governing mutual funds, stockbrokers and listing obligations to keep them relevant for emerging market realities.

The SEBI chief said the regulator will scale up its outreach using a multi-lingual, multi-media approach, and is now working with the Ministry of Panchayati Raj to reach households at the block and panchayat levels.