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Business News/ Markets / Stock Markets/  CDSL becomes first listed depository to register more than 10-crore demat accounts
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CDSL becomes first listed depository to register more than 10-crore demat accounts

CDSL is the largest depository in the country in terms of active demat accounts and allows investors to deposit securities by opening an account in electronic form (dematerialised).

CDSL is currently the largest depository in the country in terms of active demat accountsPremium
CDSL is currently the largest depository in the country in terms of active demat accounts

The Central Depository Services Limited (CDSL) announced on Wednesday, November 22, that the number of active demat accounts on its platform has crossed the 10-crore mark. In a statement, the depository announced "the crossing of another milestone as more than 10 crore demat accounts were registered with CDSL".

CDSL is the largest depository in the country in terms of active demat accounts and allows investors to deposit securities by opening an account in electronic form (dematerialised). CDSL maintains and services more than 10 crore demat accounts of Investors or Beneficial Owners (BOs) spread across the country.

Also Read: How does NSDL compete with CDSL? Here’s a comparison between the two depositories

These BOs are serviced by CDSL’s over 580 Depository Participants (DPs) from over 20,000 locations. CDSL is the only listed depository, with an objective of providing convenient, dependable and secure depository services at affordable cost to all market participants.

National Securities Depository Limited (NSDL) and CDSL are the only two depositories operating in India. NSDL competes with CDSL on parameters such as the number of depository participants registered, the number of instruments processed, and the suite of innovative products introduced to the market.

Meanwhile, the number of companies having their securities in demat form on NSDL was 40,987 in FY23 as compared to 20,323 companies on CDSL. NSDL has a greater number of unlisted companies registered with it as compared to CDSL. The number of unlisted companies at NSDL grew at a CAGR 23 per cent between FY18 to FY23.

CDSL's revenue in FY23 was at 620.94 crore, while its net profit was higher than NSDL at 275.96 crore during FY23. However, the operational performance of CDSL was better than that of NDSL during FY23. In FY23, the demat custody value for NSDL was 302.19 lakh crore, compared to 39.71 lakh crore for CDSL.

On Wednesday, shares of CDSL settled 0.41 per cent lower at 1,717.95 apiece on the NSE.

 

 

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Published: 22 Nov 2023, 08:02 PM IST
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