CDSL becomes 1st depository with 60 million active demat accounts

Central Depository Services (India) on Tuesday said it now has more than six crore plus (60 million) active demat accounts.

Central Depository Services (India) Limited (CDSL) is India’s only listed depository.

“It is reassuring 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 broadening of the Indian Capital Market,” said B.V. Chaubal, Chairman at the CDSL.

“While we are now at 6 crores demat accounts, our demat accounts are still at a fraction of the entire population and thus, there is an immense opportunity of growth given that a large part of the population of our country is yet outside the Indian securities markets,” Chaubal said.

At an event to mark the achievement, Ananta Barua, Whole Time Member, Securities and Exchange Board of India: “Dematerialisation was a product of the difficulties caused on account of physical shares. The access to the Indian securities market has become safe, convenient and easy and the new milestone is a representation of the same.”

In addition, Barua said there was a need to create an awareness amongst the new investors about the Indian securities market, the role of market infrastructure institutions, and investor protection to ensure they make informed decisions.

–IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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