Sebi seeks Irdai's help to add insurance details to consolidated account statements

Key facts

• Securities and Exchange Board of India (Sebi) has written to the Insurance Regulatory and Development Authority of India (Irdai) chairman seeking inclusion of insurance-related information in the consolidated account statement, Sebi chairman Tuhin Kanta Pandey said on Thursday.
• Currently, the consolidated account statement covers securities holdings, mutual funds, stocks across brokers, and the National Pension System (NPS).
• Following the Reserve Bank of India (RBI) announcement that Sebi-regulated depositories could access bank deposit information continuously, Sebi is working on technical details for incorporating such information.
• Sebi has sent nearly 440 million investor awareness messages over the last nine days.
• Sebi is examining proposals to strengthen the securities lending and borrowing mechanism, with a working group evaluating proposals and a consultation paper to be issued once finalised.