CDSL crosses 8-crore active demat accounts’ milestone

The securities depository firm, Central Depository Services (CDSL), on Thursday announced that it has crossed 8-crore active demat accounts. CDSL is currently the largest depository in the country in terms of active demat accounts.

A demat account helps investors hold their shares and securities in electronic format.

“We are elated and humbled to see the enormous number of investors across various states and Union Territories, who are contributing to India’s growth story. Crossing the milestone of 8 crore active demat accounts near the Foundation Day makes the occasion more special," said Nehal Vora, MD & CEO of CDSL.

"The achievement of 8 crore active demat accounts would not have been possible without the guidance of the regulator and the constant support of the market infrastructure institutions, market intermediaries and the employees of CDSL. We will continue to empower investors and support them in their journey towards Atmanirbharta,” said Nehal.

CDSL is India’s leading and only listed depository. It received its certificate of commencement of business from Sebi in February 1999 and it facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on stock exchanges.

Major shareholders of CDSL include BSE, Standard Chartered Bank, PPFAS Mutual Fund, LIC and Canara Bank.

CDSL along with its subsidiaries also provides a host of services to financial intermediaries and markets. CDSL Ventures Limited (CVL) is a wholly-owned subsidiary of CDSL and the 1st and largest KYC Registration Agency (KRA). CVL conceptualised, designed and implemented the KRA system in association with AMFI for all mutual funds in 2008. Currently, CVL has over 4.5 crore fully digitised KYC records, which are uploaded and accessed by over 2,700 intermediaries spread across the country.

CVL also provides services relating to Registrar & Share Transfer Agent (RTA), GST Suvidha Provider (GSP), Academic Depository and performing de-duplication of claims of Pradhan Mantri Jeevan Jyoti Bima Yojna.