NSDL cuts settlement fee of DPs by 10%

The National Securities Depository (NSDL) today said it has reduced the settlement fee charged to Depository Participants (DPs) by 10 per cent, from Rs 5 to Rs 4.50, per debit instruction.

The reduction will be effective from April 1, the largest Indian depository, which claims to have 1 crore demat accounts, said in a statement said here.

NSDL has adopted the policy to reduce charges with the growth in volumes and share the benefit of increased volumes with the users of the depository system.

In the past, it reduced the settlement fee several times; the last reduction was from Rs 6 to Rs 5, a reduction of 16 per cent, in 2008, it said.