CDSL opens 3 crore active demat accounts

Mumbai: CENTRAL Depository Services (India) Limited (CDSL), first and only listed depository in India, has become the first depository to open three crore plus (30 million) active demat accounts.

"The rise in demat accounts is due to technological advancements by Depository Participants, easy onboarding procedure by e-KYC and worldwide phenomenon of direct investing culture in pandemic times. If the markets remain buoyant, this trend should continue," Uttam Bagri, chairman, Bombay Stock Exchange Brokers Forum told Bizz Buzz.

CDSL is currently the largest depository in the country in terms of active demat accounts.

According to G Mahalingam, Whole Time Member, SEBI, "Apart from 3 crore demat accounts, CDSL has also witnessed its markets share crossing 59 per cent mark."

Of the new accounts, around 98.4 per cent come from the retail investor and with an outreach of 97 per cent pin-codes. Demat accounts are opened with colossal efforts of all participants of the eco-system.

NSDL is the only other such platform which is run by NSE. As of January 31, NSDL had 2,10,97,183 investors' accounts with it. BV 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.