CDSL hits new record high after clocking over 3cr active Demat accounts mark

The only listed depository is currently the largest in the country in terms of active Demat accounts.

Feb 15, 2021 03:02 IST India Infoline News Service

Central Depository Services (India) Limited (CDSL) becomes the first depository to open three crores plus (30 million) active Demat accounts.

The only listed depository is currently the largest in the country in terms of active Demat accounts.

B V Chaubal, Chairman, CDSL said: “It is heartening to note that the focus of registration of new Demat accounts is shifting from metros to tier II and tier III cities, which is indicative of the deepening and widening of the Indian Capital Market. In the 21st century, riding on financial technology, this crisis has brought the opportunity to accelerate digital innovations. CDSL has been working towards strengthening its digital footprint and providing various digital solutions for investors."

Nehal Vora, MD & CEO of CDSL stated: “We are proud to have crossed the 3-crore milestone within a year of reaching the 2 crore milestones. The trust bestowed upon us by the new investors, existing investors and all our partners inspire us to do better, every day. CDSL will continue to provide services for the progress of the securities markets, for the valued investors in line with our vision of “Empowering the Atma-nirbhar Niveshak” through our digital services."

G Mahalingam, Whole Time Member, SEBI said, "I congratulate CDSL and its employees for the significant achievement of 3 crore Demat accounts and its markets share of 59%. This event will be the beginning of the positive turn towards the growth of the eco-system and also to the new normal."'

Mahalingam added, "Of the new accounts, around 98.4% comes from the retail investor and with an outreach of 97% pin-codes. Demat accounts are opened with colossal efforts of all participants of the eco-system. This celebration also brings in the responsibility to sustain these accounts and there is an immense opportunity of growth given that a large part of the population of our country is yet outside the securities markets.” He complimented CDSL for being one of the few listed MIIs. Further, he also focused on the need to create awareness for the market for government securities, the role of MIIs, investor protection and importance of corporate governance systems and the regulatory responsibility for a strong sustainable ecosystem amongst the market infrastructure institutions."

At around 3.02 pm, CDSL was trading at Rs571.10 per piece up 6.14% on NSE. The stock has hit a new 52-week high of Rs584 per piece in early deals. 

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