How to Import an NRI Portfolio Without OTP

If you live outside India and cannot receive an OTP on your old Indian mobile number, you may still be able to import your Indian investment portfolio. Start with the Consolidated Account Statement (CAS) already sent to your registered email. Uploading or forwarding that PDF does not require a CDSL or MF Central SMS OTP.

This is the part most portfolio-import screens fail to explain. OTP is one way to fetch investment data. It is not the only way to prove what you hold.

The problem NRIs run into

A familiar situation looks like this: you moved to the UAE, US, UK, Singapore, or another country years ago. Your Indian stocks and mutual funds are still active, but the demat account is tied to an Indian SIM you no longer use. A portfolio app asks for an OTP, and the import stops there.

The usual pain points are practical rather than financial:

• The registered Indian number is inactive or not on international roaming.
• The OTP arrives after the session has expired.
• Different brokers and mutual fund folios use different email addresses or mobile numbers.
• The investor can see holdings across several apps but cannot get one consolidated view.
• An adviser asks for a current portfolio, and screenshots from three broker apps are not enough.

Before trying another OTP, it helps to understand what CAS is and why it may already solve most of the problem.

What is CAS, and why does it matter for an NRI portfolio?

A Consolidated Account Statement is an official statement of securities and mutual fund investments linked through the investor’s PAN. It is sent by a depository, CDSL or NSDL, or by a mutual fund registrar, CAMS or KFintech.

The name is slightly confusing because “CAS” can refer to more than one statement format:

According to the official CDSL CAS FAQ, its CAS combines transactions and holdings from CDSL and NSDL demat accounts with mutual fund units held in statement-of-account form. NSDL’s CAS FAQ describes the same cross-depository consolidation.

So, if you have accounts with two brokers, you do not necessarily need two separate statements. The depository that holds your older demat account normally acts as the default sender and consolidates the eligible records.

What “import portfolio” actually means

Importing a portfolio is read-only. It copies the holdings and transactions shown in the statement into a portfolio tracker, adviser dashboard, tax tool, or wealth app.

It does not:

• transfer shares or mutual fund units;
• change your broker, distributor, or bank account;
• redeem or sell anything; or
• give the importing app permission to transact.

That distinction matters when an adviser asks an NRI client to “import” or “share” a portfolio. The investments stay where they are.

Why a CAS may already be in your email

CDSL and NSDL send CAS by email when an email address is registered and electronic statements are enabled. Both depositories say a CAS is sent monthly when there has been a transaction and half-yearly when there has been no activity.

Search the investor’s mailbox, including All Mail and Spam, for these senders:

Use the newest statement whose date covers the period you need. A CAS is a snapshot, not a live broker feed.

CDSL and NSDL eCAS files are generally opened with the first or sole holder’s PAN in capital letters. CAMS and KFintech password rules can differ, especially when the investor chose a password while requesting the statement. Read the email that came with the PDF before assuming the password is wrong.

Need a fresh mutual fund CAS? Use CAS Generator

An old CAS is not much use when you need current mutual fund holdings or a longer transaction history. The usual answer is to visit the CAMS or KFintech website and submit a mailback request. That can be awkward from outside India: the site may not load reliably, captcha attempts can fail, and some investors end up trying a VPN just to reach the request form.

CAS Generator automates that request. Enter the investor’s registered email, date range, and PDF password. CASParser submits the mailback request and the detailed CAS arrives in the investor’s inbox. There is no RTA website, captcha, or VPN for the investor to deal with.

CAMS and KFintech share mutual fund data, so a CAS requested through either authority can consolidate folios serviced by both RTAs. This route covers mutual funds and their transaction history. It does not generate a fresh CDSL or NSDL demat statement for stocks and bonds.

How to import an NRI portfolio without OTP

The simplest route depends on what access the investor still has.

Option 1: Download and upload the CAS PDF

This is the most private and universal option.

1. Search the registered email account for the latest CDSL, NSDL, CAMS, or KFintech CAS.
2. Check the statement date and issuer.
3. Download the original PDF without printing, scanning, or editing it.
4. Upload the PDF to the portfolio app or send it to the adviser through their secure collection page.
5. Enter the PDF password when prompted.

No depository SMS OTP is involved. The investor’s email provider may still ask for its usual login verification, which is separate from the portfolio import.

Option 2: Import the CAS from the inbox

Some wealth apps can connect to Gmail, Outlook, or Zoho with read-only OAuth access. The app searches for CAS emails from known depository and RTA senders, lets the investor select a file, and then parses the PDF.

This saves the download-and-upload step. It is useful when an NRI has years of statements in the inbox or does not know whether CDSL, NSDL, CAMS, or KFintech sent the relevant file.

Before approving inbox access, check that it is read-only, can be revoked, and cannot send or delete email.

Option 3: Forward the original CAS email

If the investor does not want to connect an inbox, the adviser or app can provide a unique import address. The investor forwards the original CAS email to that address and waits for the PDF to be processed.

This is often easier for less technical clients. It also works when company policy blocks third-party OAuth access to a work mailbox.

Which option should you use?

Will one CAS show the complete portfolio?

Sometimes. A CDSL or NSDL CAS can be surprisingly comprehensive, but “consolidated” does not mean every asset an NRI owns anywhere in the world.

A depository CAS can include eligible Indian demat holdings and mutual fund folios when records match on PAN. In a joint holding, consolidation also depends on the first holder and the holding pattern. A folio held as A + B may not merge with one held as B + A.

A CAS will not normally give you a complete picture of:

• NRE, NRO, or foreign bank balances;
• fixed deposits;
• PPF or property;
• investments held outside India; or
• holdings linked to a different PAN or unmatched ownership pattern.

For an NRI net-worth view, CAS is the Indian securities layer. Bank accounts, property, and overseas assets must be added from other sources.

Why holdings may be missing from the CAS

If a stock account or mutual fund folio is missing, do not immediately assume the parser failed. Check the source statement first.

The common causes are:

1. The statement is old. A purchase made after the statement date will not appear.
2. The PAN does not match. CAS consolidation is PAN-based.
3. The holding pattern is different. Joint investments are matched using the first holder and holder order.
4. The registered email is different. Older folios may still use a former work or family email address.
5. The asset is outside CAS coverage. Bank deposits, property, and overseas investments need separate records.

If multiple email addresses were used, search each mailbox rather than merging the first files you find and assuming the result is complete.

Where the no-OTP route has limits

Email import can only use a demat statement that already exists. It cannot turn a six-month-old CDSL or NSDL CAS into today’s holdings.

If no usable demat statement is available, ask the broker or depository participant for the latest statement and update the registered email address so future eCAS files arrive automatically. CAS Generator solves the mutual fund side by creating a fresh CAMS/KFintech mailback, but it does not create a new demat statement for stocks and bonds.

For advisers and fintech apps: generate first, then import

An NRI onboarding flow should explain CAS before presenting technical choices. Start by asking whether the client has access to the email registered with their Indian investments. If they need fresh mutual fund data, use CAS Generator instead of sending them to the CAMS or KFintech website. Once the mailback arrives, they can import it from the inbox, forward the email, or upload the PDF.

Portfolio Connect packages generation and import into one flow:

import { PortfolioConnect } from '@cas-parser/connect';

<PortfolioConnect
  accessToken={accessToken}
  config={{
    allowedTypes: ['CAMS_KFINTECH', 'CDSL', 'NSDL'],
    enableGenerator: true,
    enableInbox: true,
    enableInboundEmail: true,
    inbox: {
      redirectUri: 'https://yourapp.com/casparser-callback',
    },
  }}
  onSuccess={(portfolio) => savePortfolio(portfolio)}
/>

The raw API key stays on the backend. For a mutual fund refresh, the investor requests a CAS and receives it at the registered email. Existing CDSL, NSDL, CAMS, or KFintech files can still be imported from the inbox, forwarded, or uploaded and parsed into the same structured response.

For a deeper explanation of the statement formats before integrating anything, read Understanding CDSL, NSDL, CAMS, and KFintech CAS Formats.

Related reading:

• Understanding CDSL, NSDL, CAMS, and KFintech CAS Formats
• Automate Client Onboarding with Portfolio Connect UI SDK
• Complete Guide to Indian Portfolio Data Extraction
• If you’re building a robo-advisor in India, start with CAS, not Account Aggregator