Concept DemoPolicy Brief v1 · June 2026

One citizen.
One consolidated financial view.

India built the rails — Account Aggregator, DPDP Consent Manager, GSTN, DigiLocker. What's missing is the citizen-facing output. BFVM is that output layer: a monthly consolidated statement of every regulated financial relationship in your name, delivered with consent, free of cost.

See the Citizen Dashboard →Preview the Tax & Compliance View

The core asymmetry

The institution knows the citizen completely. The citizen does not know the institution.

With synthetic identities, deepfakes and stolen credentials, accounts, loans, credit cards and demat accounts are opened in citizens' names without their knowledge. In parallel, tens of thousands of crores in deposits, insurance and retirement balances lie dormant because owners simply lost track. Banking fraud in FY24–25 ran to roughly ₹36,000 crore; unclaimed deposits to roughly ₹78,200 crore.

The cost of citizen financial blindness

  • Identity fraud
    Accounts, loans, cards and demat opened in one's name go undetected until enforcement, recovery or a credit-score shock.
  • Dormant wealth
    Deposits, insurance proceeds and retirement balances forgotten and eventually written off to State funds.
  • Estate & succession
    On death, families cannot identify the deceased's assets, leaving wealth stranded.
  • Tax & legal exposure
    Without a consolidated record, citizens cannot reconcile their footprint and face avoidable scrutiny and notices.
  • Financial planning
    No consolidated net-worth view means weaker household financial decisions.

What India already built — and the one gap that remains

Account Aggregator / DEPA

Provides: Consent-based financial data sharing across banking, securities, insurance, pension.

Gap: No standing, scheduled statement pushed to the citizen.

DPDP Act 2023 + Rules 2025

Provides: Legal basis: Consent Manager + citizen's right to access personal data.

Gap: No mandated consolidated financial-position statement.

MuleHunter.AI · IDPIC · I4C

Provides: Institution-facing fraud detection across mule accounts and payments.

Gap: Faces the institution, not the citizen.

UDGAM (RBI)

Provides: Search-and-claim for inactive deposits, ~30 banks, 10+ years dormant.

Gap: No early warning; no live balances; no proactive surfacing.

The proposal

A citizen-facing output layer, not a new system.

PAN as the identity spine
PAN + AA consent handle is the clean spine. Aadhaar remains optional and deferred.
Two distinct products
(a) Monthly consolidated statement — feasible today on AA. (b) Real-time alerts — sequenced later under a fresh mandate.
Consent-first, always
Every flow is citizen-initiated, revocable, purpose-limited, via a data-blind Consent Manager.

The citizen charter of financial-visibility rights

1
Right to Visibility
Know every regulated financial relationship linked to your identity.
2
Right to a Periodic Statement
Receive a free monthly consolidated statement of your financial position.
3
Right to Notification
Be alerted when a new financial relationship is created in your name.
4
Right to Dormant-Asset Discovery
Be shown dormant and forgotten holdings before they are lost.
5
Right to Nominee Visibility
See and verify nominee registrations across institutions.
6
Right to Consent & Revocation
Grant and withdraw data access with equal ease, at any time.
7
Right to an Audit Trail
See who accessed your financial data, when, and why.
8
Right to Free Access
Exercise all of the above at no cost to the citizen.

Phased roadmap — feasible to aspirational

  • Phase 1
    Monthly consolidated statement: bank, deposits, MF, demat, NPS, EPF + dormant flags + KYC status.
    Largely feasible on the live AA framework today.
  • Phase 2
    Real-time alerts on new accounts, loans, cards, demat & nominee changes; insurance and small-savings.
    Needs fresh mandate and provider obligations.
  • Phase 3
    Unified net-worth dashboard, dormant-asset recovery, nominee & estate / succession support.
    Builds on Phases 1–2 once coverage and trust are established.
  • Phase Next
    PAN-linked tax & compliance view: GST monthwise/annual turnover, all GSTINs linked to PAN, ITR of last 5 years, IT/GST/regulatory notices & demands.
    Demonstrated in the Tax & Compliance View page — for stakeholder review.

Tentative products on review

Two working prototypes ship with this brief — a citizen monthly statement, and a Phase-Next tax & compliance view fed by GSTN and the Income-Tax department.

Citizen DashboardTax & Compliance View