CDSL demat accounts cross 1-crore mark

The number of demat accounts held with Central Depository Services India Ltd (CDSL) has crossed one crore at the end of August.
While rival National Securities Depository Ltd (NSDL) has 1.39 crore demat accounts.
"CDSL has been growing steadily due to support received from the different stakeholders and is now pleased to announce that the number of active demat accounts opened with it at the end of August, 2015 has crossed one crore," the depository said in a statement.
With an average incremental market share of 54 per cent over a decade, CDSL, commands 42 per cent market share in the total accounts opened in demat space.

Several measures taken by CDSL including nil custody charges, nil charges for incoming securities into demat account, reduction in tariff per debit transaction from ad valorem basis and substantial improvement in quality of service delivered by the depository participants as well as depositories has helped it, CDSL Chairman N Rangachary said.
He further added, "Next phase of development is to work with the government and regulators in financial sector to make 'single operational demat account for all financial assets' a reality. This development will significantly reduce the cost to investors while improving the service levels in the financial sector."
Under 'Single Demat Account', it is expected that assets such as fixed deposits of banks and corporates, insurance policies, pension products among others will be kept in demat form.