NSDL celebrates 20 years of driving digital capital markets in India
Mumbai (Maharashtra) [India], (ANI): National Securities Depository Limited (NSDL) celebrated the completion of 20 years of service to the Indian capital markets. The occasion was graced by U.K. Sinha, Chairman, SEBI.
Speaking on this commemorative occasion G.V. Nageswara Rao, MD and CEO, NSDL said, "NSDL always being in the forefront of driving digital capital markets in India, and on the behalf of team NSDL, I would like to thank all our investors, business partners, issuer companies for being a part of this remarkable journey. I would like to assure you that NSDL will continue walking the path of innovation and modernization to bring more transparency, more convenience to investors while focusing on enhancing safety and security of capital markets in India."
NSDL is one of the leading depositories in the world with several key parameters like custody value, services provided and network of service centres. The value of securities held in NSDL system as on January 19, 2017 was Rs. 134 lakh crore (US$ 1.96 trillion) which represents 90 percent market share in custody value, 97 percent in debt securities and over 99 percent in terms of Foreign Portfolio Investment in India.
NSDL services more than 15.2 million investor accounts through its participant network of over 27,000 plus service centres. These are located across 1,944 towns in India. NSDL demat account-holders are present in every state and union territory, covering more than 89 percent of PIN codes in India.
Apart from the basic demat related services, NSDL offers an array of value added services to its investors. NSDL is contributing to the Digital India drive with its various internet and mobile based initiatives such as SPEED-e, IDeAS, STeADY, SPICE, e-Voting, Mobile App, FPI monitor, IndiaBondInfo, 26AS View and Electronic Verification code (EVC) generation for e-filing IT returns through NSDL demat account among others.
Under the policy guidance of SEBI, NSDL has also started sending Consolidated Account Statements (CAS) which provides a single view of all securities as well as insurance policies held in electronic form. (ANI)