Active Demat accounts on CDSL cross 7-crore mark

Central Depository Services on Thursday said the number of active Demat accounts on its platform had crossed the 7-crore mark.

Central Depository Services (India) Ltd or CDSL began operations in 1999. It facilitates holding and transacting in securities in the electronic form and settlement of trades on stock exchanges, according to a statement.

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CDSL MD and CEO Nehal Vora said that investors across various states and Union territories are now contributing to India’s growth story.

“As CDSL crosses another milestone of 7 crore Demat accounts, it is not just encouraging for us but the entire ecosystem of the Indian securities market,” he added.

CDSL is currently the largest depository in the country in terms of active Demat accounts and allows investors to deposit securities by opening an account in electronic form (materialised).