New Delhi, Nov 17 (PTI) The number of active demat accounts held with Central Depository Services India Ltd (CDSL) has crossed one crore.
On the other hand, rival National Securities Depository Ltd (NSDL) has 1.42 crore demat accounts. "CDSL is pleased to announce that the number of active demat accounts opened with it has crossed one crore.
It is a significant milestone for CDSL in its operations", the depository said in a statement today. As of October 31, it has 1.02 crore investors' accounts.
With an average incremental market share of 54 per cent over the decade, CDSL commands 42 per cent market share in the total accounts opened in demat space.
The 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, CDSL Managing Director and CEO P S Reddy said.
This development will significantly reduce the cost to investors while improving the service levels in the financial sector, he added.
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.