There is an immense opportunity for growth given that a large part of the population of our country is yet outside the Indian securities markets, CDSL chairman said
Central Depository Services (India) Limited (CDSL), the only listed depository in India, said it has achieved the milestone of opening 6 crore active demat accounts.
At an event organised on this occasion, Ananta Barua, whole-time member of SEBI highlighted the importance of investor awareness.
Dematerialisation was a product of the difficulties caused on account of physical shares. Access to the Indian securities market has become safe, convenient and easy and the new milestone is a representation of the same. Enormous efforts have been taken by all the market infrastructure institutions to maintain the seamless operations of the financial ecosystem during the last 2 years and whilst the same was being done, the markets were reaching unprecedented new heights and that was possible only due to the ease of business being provided by the MIIs such as eCAS, eNomination, etc. which helped the capacity building of the investors and the whole financials system was benefitted,” he said
He also focused on the need to create an awareness amongst the new investors about the Indian Securities market, the role of MIIs, investor protection to ensure they make informed decisions.
B V Chaubal, chairman, CDSL said, “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. 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 for growth given that a large part of the population of our country is yet outside the Indian securities markets.”
