Active demat accounts with CDSL reaches 4 crore
CDSL, which began operations in 1999, crossed 2 crores active demat accounts in January 2020, 3 crore in January 2021, and 4 crores in July 2021.
Leading depository CDSL on Thursday said the number of active demat accounts opened with it has reached the 4-crore mark.
CDSL, which began operations in 1999, had 1 crore active demat accounts in September 2015, crossed 2 crores in January 2020, 3 crore in January 2021, and 4 crores in July 2021.
It is the largest depository in the country in terms of active demat accounts, CDSL said in a statement.
“Our milestones are a result of the hard work and coordination of all the market infrastructure institutions and the market intermediaries,” CDSL Managing Director and CEO Nehal Vora said.
“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.
Central Depository Services (India) Ltd (CDSL), which allows investors to deposit securities by opening an account in electronic form (dematerialized), gets its revenues from transaction charges, account maintenance charges, and settlement charges paid by depository participants. It also earns through annual fees, corporate action, and e-voting charges paid by companies whose securities are admitted in the depository’s system.