Central Depository Services (India) Limited (CDSL) has become the first depository to open more than four crore active Demat accounts. CDSL is the second Indian central securities creditory, situated in Mumbai.
“I will firstly congratulate SEBI (Securities and Exchange Board of India) for being the visionary leader that guided us to this digital growth and safe ecosystem. It was their planning 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 (Central Depository Services Limited) 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 be enhanced 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 (Central Depository Services Limited) is one of India's two depositories and the country's sole publicly traded one. In February 1999, SEBI issued it a certificate of commencement of business. It allows for the electronic keeping and trading of securities, as well as the settlement of trades on stock exchanges.
CDSL (Central Depository Services Limited) manages and services 4 million Demat accounts for investors and beneficial owners (BOs) all throughout India. CDSL serves these BOs through 580 depository participants (DPs) in over 20,600 locations.
BSE, Canara Bank, HDFC Bank, LIC, and Standard Chartered Bank are all major owners in CDSL (Central Depository Services Limited).
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