The Central Depository Services (India) Ltd (CDSL) yesterday announced that the number of active demat accounts opened with it as at the end of August, 2015 has crossed 1 crore, a significant milestone for CDSL in its operations. With an average incremental market share of 54% over a decade, CDSL commands an overall 42% market share in the total accounts opened in demat space. CDSL has the least cost structure for setting up of a large DP network which helped in spreading the demat culture across the country.
Says N. Rangachary – Chairman, CDSL said “The advent of CDSL in the capital market has done what precisely the competition was expected to deliver: Nil custody charges, Nil charges for incoming securities into demat account, Reduction in tariff per debit transaction from ad valorem basis to 1/12th of a dollar (Rs. 5.50 per transaction), product innovation and above all substantial improvement in quality of service delivered by the DPs and Depositories in the Capital Market.” Thanks to the technological innovations, CDSL has the least cost structure which helped in spreading the demat culture across the country. According to P. S. Reddy – MD & CEO, CDSL said that “We are confident that in the years to come the dominance in the industry will be redefined and will be determined only by quality of service rendered, aided by constant adoption and upgradation of technology with a resilient infrastructure. CDSL shall continue to play its role as a Market Infrastructure Institution for greater financial inclusion driven by financial literacy across the country.”