How to access the Consolidated Account Statement (CAS) for PPFAS holdings

From WebNotes, a public knowledge base. Last updated 17 May 2026. Reading time ~6 min. Level: Beginner.

Key facts

Issuer	NSDL or CDSL (the depository where the investor's demat account is held); CAS is the joint SEBI-AMFI-prescribed cross-AMC statement
Frequency	Monthly (if there was any transaction during the month); half-yearly otherwise
Coverage	All mutual fund holdings across all AMCs serviced by CAMS and KFin Technologies (substantially the full industry, including PPFAS) plus any demat-mode securities
Delivery	Email to the registered email address; on-demand PDF download from the NSDL/CDSL portal or via MF Central

This guide covers accessing the Consolidated Account Statement (CAS) that includes PPFAS Mutual Fund holdings. The CAS is a SEBI-prescribed cross-AMC monthly statement issued by either NSDL or CDSL (the depository at which the investor holds the demat account); it consolidates mutual fund holdings serviced by both CAMS and KFin Technologies (substantially the full industry, including PPFAS) along with any demat-mode securities. The CAS is distinct from the AMC-issued PPFAS account statement (which covers only PPFAS folios). For investors with holdings across multiple AMCs, the CAS is the single most useful aggregate-portfolio statement.

Prerequisites

A registered demat account at either NSDL or CDSL. Most full-service and discount brokers (Zerodha, Groww, ICICI Direct, HDFC Securities, etc.) operate a demat account on behalf of the investor.
An email address registered with the depository for CAS delivery.
PAN linked to the depository and to the mutual fund folios.
For password access: the investor’s PAN in upper case and date of birth in DDMMYYYY format. The exact password format may vary by depository; the email containing the CAS attachment specifies the format.
An understanding that PPFAS folios held in SoA mode (the default for direct-plan investors via SelfInvest) are included in the CAS even though there is no demat account specifically for those folios. The CAS aggregates by PAN, not by demat account.
For investors without a demat account: CAS in email form is still issued by the underlying depository where the investor’s mutual fund records are stored; the SEBI-AMFI framework ensures CAS coverage for SoA folios.

Step-by-step procedure

Step 1: Identify the relevant depository for the CAS

Two depositories issue CAS: NSDL and CDSL.

NSDL: National Securities Depository Limited. The older and larger depository; serves a substantial portion of demat accounts.
CDSL: Central Depository Services Limited. The newer and rapidly-growing depository; many discount brokers including Zerodha use CDSL.

For investors with only SoA-mode mutual fund holdings (no demat-mode securities), the CAS is typically issued by NSDL by default per the AMFI framework, but this varies. The most reliable way to identify the CAS issuer is to check the most recent CAS email; the sender domain identifies NSDL (cas.nsdl@nsdl.co.in) or CDSL (cas@cdslindia.com) clearly.

Step 2: Verify email registration on the depository

CAS is emailed automatically to the registered email address. Verify the email is current:

For demat-account holders: Update through the broker’s portal or directly through the depository’s investor portal.
For SoA-only investors: The email on record at CAMS (the PPFAS RTA) is used. Update via the SelfInvest Service Request flow or contact CAMS directly.

Step 3: Wait for the monthly email or download on demand

The monthly CAS is emailed automatically:

By the 10th of the following month for FY-end and other transaction-active months.
Half-yearly (April and October) for months with no transactions across any of the investor’s folios.

For on-demand access before the next monthly cycle:

Log in to the NSDL CAS portal at https://nsdlcas.nsdl.com/ or the CDSL CAS portal at https://www.cdslindia.com/CAS/CASLogin.aspx.
Provide PAN, the registered email or mobile, and the date of birth.
Generate the CAS for the desired month.

Step 4: Use MF Central for unified CAS retrieval

MF Central offers a unified CAS download that aggregates the NSDL and CDSL records into a single PAN-level statement:

Visit mfcentral.com.
Log in with PAN and OTP.
Navigate to Statements then CAS or Consolidated Account Statement.
Download the CAS in PDF format.

The MF Central CAS is a synthesised view; the depository-issued CAS remains the authoritative document.

Step 5: Open the CAS PDF

The CAS PDF is password-protected. The password format is typically:

PAN (in upper case) followed by date of birth in DDMMYYYY format. Example: PAN ABCDE1234F and DOB 15 March 1985 yields password ABCDE1234F15031985.

Some depository variants use just PAN, or PAN with a different DOB format. The accompanying email specifies the exact format.

Step 6: Locate the PPFAS entries

The CAS is structured as follows:

Section A: Investor details (name, PAN, address).
Section B: Mutual fund holdings, sorted alphabetically by AMC. Find Parag Parikh Mutual Fund or PPFAS Mutual Fund.
Each PPFAS folio is listed with:
- Folio number.
- Scheme name and ISIN.
- Plan (Direct or Regular) and option (Growth or IDCW).
- Current units held.
- Latest NAV.
- Current value.
Section C: Transactions during the month or half-year, broken down by date.
Section D: Demat-mode securities (if any).
Section E: Portfolio summary with total mutual fund value, total demat-mode value, and grand total.

Step 7: Cross-check against the PPFAS SelfInvest dashboard

Compare the CAS PPFAS section against the SelfInvest dashboard:

Folio counts: Should match.
Units per scheme: Should match exactly.
NAV: May differ slightly if the CAS uses a month-end NAV and the SelfInvest dashboard uses the current NAV.
Current value: Follows from units multiplied by NAV.

Any mismatch typically indicates a timing issue (recent transactions not yet reflected in the CAS) or a folio not yet linked to SelfInvest. Use how to link an existing PPFAS folio to SelfInvest for the latter.

Step 8: Retain the CAS for record-keeping

The CAS is a useful cross-AMC reference for:

Net-worth tracking: Single document showing all mutual fund holdings.
Loan applications: Banks accept CAS as a portfolio-disclosure document.
ITR support: Aggregate value as of FY-end is useful for Schedule AL (Assets and Liabilities) disclosure for high-income filers.
Estate planning: Provides a current snapshot of the investor’s mutual fund portfolio.

Retain at least 12 months of CAS for reference. Older CAS can be downloaded on-demand from the depository portal.

What can go wrong

CAS email not received: The most common issue. Caused by stale email-registration with the depository or by spam-folder filtering. Update the email at the depository and check the spam folder.
CAS password not working: Re-verify the PAN-and-DOB format. Some depositories use a different password format; the CAS email specifies the exact format.
PPFAS folios missing from CAS: Folios newly opened (e.g., a SelfInvest account opened mid-month) may not appear in the CAS for the month of opening but will appear in the next month’s CAS. Recently switched folios may show the destination folio with a fresh acquisition date.
NSDL versus CDSL CAS coverage difference: If the investor has accounts at both NSDL and CDSL (e.g., demat at one broker on NSDL plus another broker on CDSL), each depository issues its own CAS, but each CAS is supposed to be PAN-aggregated. In practice, occasional discrepancies arise. MF Central’s unified CAS resolves this for mutual funds.
Joint folio in CAS: Joint-mode folios appear under both holders’ CAS if both holders have registered email addresses with the depository. Either-or-Survivor folios may appear differently. Verify the CAS coverage carefully.
Half-yearly CAS instead of monthly: If no transactions occurred during the month, the CAS is issued half-yearly (April for October-March and October for April-September). To force a monthly CAS, place a small transaction in the month.
Distinction from PPFAS account statement: The CAS is multi-AMC and is issued by the depository. The PPFAS account statement is PPFAS-only and is issued by CAMS. Both are valid, but for different purposes.
ITR Schedule AL reporting: Only investors with income above the ITR Schedule AL threshold (currently Rs 50 lakh of total income) need Schedule AL. The CAS is a useful input for this.
Statement of Financial Transactions (SFT) reconciliation: The CAS data may differ from the AIS data due to different reporting frameworks. The CAS is depository-issued; the AIS is Income Tax department-issued from SFT submissions by AMCs and others. Both are independently authoritative.
NRI CAS: NRIs receive CAS at their registered email. The CAS format is identical; the implications for foreign-tax filing depend on the NRI’s tax residency.

How to download a PPFAS account statement covers the PPFAS-only AMC statement
How to download a PPFAS capital-gains statement for ITR covers the tax-focused statement
How to invest in PPFAS schemes via MF Central covers MF Central’s broader functionality including CAS retrieval
How to link an existing PPFAS folio to SelfInvest covers folio-linkage if PPFAS folios are missing from SelfInvest
The reference article on CAS NSDL CDSL versions covers the technical details of CAS issuance
The reference article on MF Central covers MF Central’s full functionality

External references

References

SEBI Circular on Consolidated Account Statement, SEBI/IMD/CIR No.18 / 198647 / 2010, dated 15 March 2010 (with subsequent amendments).
AMFI Industry Best Practices Guidelines on CAS issuance.
NSDL CAS framework documentation at nsdl.co.in.
CDSL CAS framework documentation at cdslindia.com.
SEBI Master Circular for Mutual Funds, 22 May 2024.
SEBI (Mutual Funds) Regulations, 1996.
PPFAS Mutual Fund, SelfInvest portal documentation.
MF Central documentation at mfcentral.com.
CAMS Investor Services documentation.
KFin Technologies investor services documentation.

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The WebNotes Editorial Team covers Indian capital markets, payments infrastructure and retail investor procedures. Every article is fact-checked against primary sources, principally SEBI circulars and master directions, NPCI specifications and the official support documentation published by the intermediary in question. Drafts go through a second-pair-of-eyes review and a separate compliance read before publication, and revisions are tracked against the SEBI and NPCI rule changes referenced in the methodology section.

Last reviewed: 17 May 2026
Conflicts of interest: WebNotes is independent. No relationship with any broker, registrar or bank named in this article.