CDSL reaches new milestone with over 6 crores active demat accounts

The Central Depository Services (India) Limited (CDSL) now has more than six crore (60 million) active demat accounts, the company said in a media release. CDSL boosts of being the first and only listed depository in India with this achievement.

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CDSL is India’s leading and only listed depository providing depository services to market participants.

The major shareholders of CDSL include BSE, Standard Chartered Bank, PPFAS Mutual Fund, HDFC Bank and LIC.

CDSL along with its subsidiaries also provides a host of services to the financial intermediaries and markets. They services are as follows:

1) CDSL Ventures Limited (CVL) - It 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.

2) CDSL Insurance Repository Limited (CDSLIR) - CDSL IR has received registration certificate from Insurance Regulatory and Development Authority of India (IRDAI) to act as an ‘Insurance Repository’ under the guidelines on Insurance repositories and electronic issuance of insurance policies.

3) CDSL Commodity Repository Limited (CCRL) - This facility allows the Farmer, Farmers Producer Organizations (FPOs), Manufacturers, etc., to obtain electronic warehouse receipts (negotiable or non-negotiable) [eNWRs or eNNWRs] in a demat account against deposit of commodities in any of the warehouses registered with Warehousing Development and Regulatory Authority (WDRA).

4) CDSL IFSC Limited (CIL) - This company registered under the Companies Act, 2013 CDSL IL has received approval from International Financial Services centres Authority (IFSCA) to act as a ‘Foreign Depository’ to run the depository system as well as the bullion depository and any other ancillary activities as approved by IFSCA.

While speaking about attaining the six-crore landmark, Nehal Vora, MD & CEO of CDSL said, "...we would like to thank the investors for their constant faith and we are fully committed to make the operation of the demat account, a hassle-free experience and we would constantly endeavour making every investor, an Atmanirbhar Niveshak, through our digital services.”