Sebi Makes Email Default Mode Of Sending CAS: Know All About CAS

Sebi announced that email will be the default mode of dispatch for Consolidated Account Statement (CAS) by depositories and MF-RTAs. Read on to learn more.
Sebi Makes Email Default Mode Of Sending CAS
Sebi Makes Email Default Mode Of Sending CAS

Securities and Exchange Board of India (Sebi) on July 1, 2024, announced that email has been chosen as the default mode of dispatch for Consolidated Account Statements (CAS) by depositories and mutual fund registrar and Transfer Agents (MF-RTAs) etc. The circular shall be effective from August 1, 2024.

The change has been made considering the increasing reach of digital technology and the electronic mode now being the preferred mode of communication and as a green initiative measure.

A Consolidated Account Statement (CAS) is a single or combined account statement that shows the details of financial transactions made by an investor during a month across all Mutual Funds and also other securities held in dematerialised (Demat) mode. To know more details on how details from CAS can be used to file ITR, check here.

Key Details Of Circular

The CAS shall be dispatched by email to all the investors whose email addresses are registered with the Depositories and AMCs/MF-RTAs. However, where an investor does not wish to receive CAS through email, the option shall be given to the investor to receive the CAS in physical form at the address registered with the Depositories and the AMCs/MF-RTAs.

The depositories shall also inform the investor every quarter through the SMS mode specifying the email ID on which the CAS is being sent. Further, if there is any transaction in any of the demat accounts of the investor or any of his mutual fund folios, then CAS must be sent monthly.

If there is no transaction in any of the mutual fund and demat accounts then CAS withholding details shall be sent to the investors by email on a half-yearly basis. For accounts with credit balance but no transactions during the year, a half-yearly statement of holding for the year shall be sent to the beneficiary owner through email, Sebi said.

After the recent instance of alleged discrepancy at Groww brokerage between the amount deducted and the investment made, experts highlighted the importance of each investor meticulously reviewing their CAS every month.

Related Stories

No stories found.
logo
Outlook Business & Money
business.outlookindia.com