1 min read.Updated: 08 Jul 2021, 05:44 PM ISTLivemint
Our milestones are a result of the hard-work and coordination of all the market infrastructure institutions and the market intermediaries, said CDSL Managing Director Nehal Vora
Central Depository Services (India) Limited (CDSL), the second Indian central securities depository based in Mumbai, has become the first depository to open more than four crore active Demat accounts.
"I will firstly congratulate SEBI for being the visionary leader that guided us to this digital growth and safe ecosystem. It is their foresight that transited the long Demat account opening procedure into an easy digital experience without compromising on the necessary controls. Our milestones are a result of the hard-work and coordination of all the market infrastructure institutions and the market intermediaries," said CDSL Managing Director Nehal Vora.
"I would like to thank all the participants of the capital market for their contribution in accelerating the digital and financial growth of India. This journey of financial inclusion has to enhance to engage with a higher number of persons to foray into the securities market to achieve the objective to make India a capital market hub that is highly focused on corporate governance, technology, investor protection, transparency and sustainability," he added.
CDSL is one of the two depositories in India and the only listed one in the country. It received certificate of commencement of business from SEBI in February 1999. It facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on stock exchanges.
CDSL maintains and services 4 crore Demat accounts of investors or beneficial owners (BOs) spread across India. These BOs are serviced by CDSL’s over 580 depository participants (DPs) from over 20,600 locations.
Major shareholders of CDSL include BSE, Canara Bank, HDFC Bank, LIC and Standard Chartered Bank.
CDSL offers a host of services through its subsidiaries - CDSL Ventures Limited (CVL), CDSL Insurance Repository Limited (CDSLIR), CDSL Commodity Repository Limited, and CDSL IFSC Limited (CDSL IL).