RBI Mandates Consolidated Financial Statements for Demat Account Holders
The Reserve Bank of India has directed financial institutions to provide a consolidated account statement. This statement will unify details of an individual's mutual funds, stocks, and fixed deposits in a single document. The initiative is designed for holders of demat accounts, allowing them to view their securities and bank deposits together. The move aims to provide investors with a comprehensive overview of their financial holdings in one place.
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