Central Depository Services (India) Limited (CDSL) is one of India's leading securities depositories. The company was initially promoted by the BSE Ltd. which thereafter divested its stake to leading banks. All leading stock exchanges like the BSE Ltd. National Stock Exchange and Metropolitan Stock Exchange of India have established connectivity with CDSL. CDSL offers other online services such as e-voting e-Locker National Academy Depository easi (Electronic Access to Security Information) easiest (Electronic Access to Securities Information and Execution of Secured Transaction) and mobile application (myeasi m-voting). The company offers services to several sub-sectors of the Indian securities and financial services market including capital markets mutual funds and insurance companies.CDSL has high stability of operating income from the fixed annual charges collected from the registered companies and transaction-based fees collected from Depository Participants. Transaction charges are levied by the depositories subject to prior approval of SEBI. The company offers dematerialisation for a wide spectrum of securities including equity shares preference shares and bonds of public (listed and unlisted) and private companies units of mutual funds government securities commercial papers and certificates of deposits. As on 30 November 2018 CDSL had 16.49 million investor accounts (excluding closed accounts). The company has a wide network of Depository Participants (DPs) who act as points of service. The total number of registered Depository Participants (DPs) with CDSL stood at 592 as on 30 November 2018. As on 30 November 2018 CDSL had 329.39 billion securities representing a total value of Rs 19.28 trillion.Central Depository Services (India) Limited (CDSL) was incorporated at Mumbai on December 12 1997 as a public limited company. The Company obtained its certificate of commencement of business from Ministry of Corporate Affairs on December 19 1997. The Company was initially registered by way of a certificate of registration on August 19 1998 by SEBI under the Depositories Regulations and subsequently obtained its certificate of commencement of business as a depository under Depositories Regulations on February 8 1999. The Company commenced depository business on 15 July 1999 with the objective of providing convenient dependable and secure depository services at affordable cost to all market participants. The first settlement of trades in demat mode through BOI Shareholding Limited the clearinghouse of BSE started in July 1999. In 2002 the company launched its internet facility 'easi' (electronic access to securities information). During the year under review online inter-depository transfer commenced. This facility enables on-line transfer of securities between both the depositories any time during the specified business hours. In 2004 the company launched its internet facility 'easiest' (electronic access to securities information & execution of secured transaction).In 2005 the number of active demat accounts with CDSL crossed 1 million and the number of companies admitted with CDSL for demat crossed 0.005 million. In 2006 CDSL was awarded the BS7799 certification and ISO 27001 from Det Norske Veritas (Rotterdam). During the year under review CDSL Ventures Limited a wholly owned subsidiary of CDSL began 'Customer profiling and Record Keeping' of the KYC of investors for mutual funds. In 2007 CDSL signed an MoU with the Depository Trust & Clearing Corporation of New York (DTCC) designed to build a closer working relationship and exchange of information. During the year under review the company signed an MoU with the Korea Securities Depository (KSD) aimed at promoting development of financial services industries in India and Korea. During the year under review CDSL launched its SMS Alert facility called 'SMART' (SMS Alerts Related to Transactions).In 2008 the number of active demat accounts with CDSL touched 4.5 million. During the year under review the company signed an MoU with Japan Securities Depository Center Inc. (JASDEC) of Tokyo designed to build a cooperative relationship. During the year under review the company signed an MoU with National Depository Center (NDC) to bolster economic relations between India and Russia by encouraging cooperation through the mutual exchange of experience. During the year under review the company signed an MoU with Taiwan Depository & Clearing Corporation (TDCC) aimed at mutual benefits and further development in the financial market by cooperation in operations and operation linkages exchange of personnel and new developments. During the year under review the company signed an MoU with Euroclear SA/NV designed to promote cross-border investment and explore the possibility of establishing an operational link between us and Euroclear SA/NV.In 2009 the then Minister for Corporate Affairs Mr. Salman Khurshid launched CDSL's e-voting platform. During the year under review CDSL and Bursa Malaysia Depository Sdn. Bhd. (Bursa Malaysia Depository) signed an MoU to pursue cooperative relationship and opportunities in the areas of securities clearing and depository.In 2010 the company signed an agreement with Nepal Stock Exchange Limited (NEPSE) to set-up a depository and clearing and settlement system in Nepal and to provide technical assistance and consultancy services to NEPSE. During the year under review the company signed an agreement with NEPSE to set-up a Depository and Clearing & Settlement system in Nepal.In 2012 the then SEBI Chairman Mr. U. K. Sinha launched CDSL Ventures KRA India's first and largest KYC Registration agency.In 2013 Transaction Using SMS Texting (TRUST) the acronym for CDSL's mobile based utility 'Transaction Using Secured Texting' was formally launched. In 2015 the number of active demat accounts opened with CDSL crossed 10 million.In 2017 CDSL Commodity Repository Limited was incorporated as a wholly owned subsidiary of CDSL. During the year under review CDSL signed an MoU with Central Depository Systems (Pvt) Limited Sri Lanka to pursue cooperative relationship and opportunities in the areas of securities clearing and depository.CDSL got its shares listed on National Stock Exchange on 30 June 2017 through Offer for Sale where BSE Ltd. divested its stake from 50.05 % to 24%. Consequently CDSL has become an Associate Company of BSE Ltd. On 26 September 2017 CDSL Commodity Repository Ltd. (CCRL) a wholly owned subsidiary of Central Depository Services (India) Limited (CDSL) received formal registration certificate as Commodity Repository. The Board of Directors of Central Depository Services (India) Limited (CDSL) at its meeting held on 28 October 2017 passed the resolution for setting up the depository (IFSC unit) in Gujarat International Finance Tech-City (GIFT). In 2008 the number of active demat accounts with CDSL crossed 15 million (1.5 crore).On 27 March 2018 Central Depository Services (India) Limited (CDSL) announced that SEBI has granted its approval for registration for CDSL Ventures Limited subsidiary of CDSL to act as registrars to an issue and share transfer agents. On 4 June 2018 a tripartite agreement was executed amongst MCX Ltd Central Depository Services (India) Limited (CDSL) and CDSL Commodity Repository Ltd. (CCRL) for sale of 24% stake held by CDSL in CCRL equivalent to 1.2 crore-equity shares of Rs 10 each in favor of MCX Ltd.On 1 August 2018 a tripartite agreement was signed amongst BSE Investments Ltd. Central Depository Services (India) Limited (CDSL) and CDSL Repository Limited for transfer of 24% stake of CDSL in CDSL Commodity Repository Ltd. equivalent to 1.2 crore equity shares of Rs 10 each in favor of BSE Investments Ltd.On 7 September 2018 Central Depository Services (India) Limited and Life Insurance Corporation of India (LIC) entered into a Memorandum of Understanding (MOU) for providing group insurance coverage to all eligible non Basic Services Demat Account (BSDA) holders provided the Depository Participants (DPs) chooses to join the scheme and pay the premium of Rs 130 plus GST for a life cover of Rs 1 lakh as an incentive to their demat account holders. There is no financial obligation on CDSL. However CDSL encourages all DPs to join the scheme to incentivize the demat account holders to continue their relationship with them.