SEBI Chairperson Launches CDSL’s Inclusive Initiatives for Investors’ Ease of Doing Business
Mumbai, 18th January 2024: Central Depository Services (India) Limited (CDSL), Asia’s pioneer listed depository, commemorated its silver jubilee with the launch of two groundbreaking multi-lingual initiatives aimed at fostering inclusivity and accessibility in the capital market. The launch, held on January 17, 2024, was graced by SEBI Chairperson Smt. Madhabi Puri Buch.
Empowering Inclusion with Multi-Lingual CAS:
CDSL unveiled a pioneering upgrade in investor CAS (Consolidated Account Statement), allowing investors to receive statements in their preferred language among 23 diverse Indian languages. Aptly named ‘Apka CAS – Apki Zubaani,’ this initiative ensures easier accessibility, offering investors a consolidated view of their dematerialized securities in a language of their choice.
Breaking Communication Barriers with ‘CDSL Buddy Sahayta 24*7’ Chatbot:
The introduction of ‘CDSL Buddy Sahayta 24*7,’ a unique multi-lingual chatbot on the CDSL website, aims to simplify investors’ journeys toward self-sufficiency (‘Atmanirbharta’). With support in four languages initially, the chatbot becomes a constant companion, providing round-the-clock assistance to investors navigating the complexities of the securities markets.
Market Awareness Initiatives:
As part of its ongoing efforts to deepen market awareness in cybersecurity and financial literacy, CDSL showcased two key initiatives:
1. Thought Leadership Report on ‘Reimagine Digital Trust in Capital Markets’:
Collaborating with knowledge partners KPMG, CDSL presented a comprehensive report, synthesizing insights from its recent Cyber Security Symposium. The report explores digital trust, global financial interconnectedness, and resilience against emerging cyber threats.
2. Successful Completion of ‘Neev’ – A Pan-India Financial Literacy Campaign:
Celebrating its 25th anniversary, CDSL concluded the ‘Neev’ campaign, spreading financial literacy across 25 cities. This initiative reached diverse communities, including armed forces and rural areas, reflecting a commitment to disseminate financial awareness across the breadth and depth of the country.
Speaking on the silver jubilee event, Nehal Vora, MD & CEO, expressed gratitude for the SEBI Chairperson’s support, emphasizing the significance of inclusivity in CDSL’s core values. Vora stated, “Our aspiration is to venture into every realm necessary to build and elevate Inclusive Trust. The only language we speak is that of inclusive trust, envisioning a united CDSL, where our ethos resonates with unified trust.”
About CDSL:
Central Depository Services (India) Limited (CDSL) is India’s leading and only listed depository, offering convenient, dependable, and secure depository services at an affordable cost to all market participants. Since receiving its business commencement certificate from SEBI in February 1999, CDSL has facilitated the holding and transacting of securities in electronic form, along with the settlement of trades on stock exchanges.
CDSL maintains and services over 10 crore Demat accounts of Investors or Beneficial Owners (BOs) across India. These BOs are served by CDSL’s 580+ Depository Participants (DPs) from over 20,000+ locations.
In addition to its core depository services, CDSL and its subsidiaries provide various services to financial intermediaries and markets, including KYC Registration, Insurance Repository, Commodity Repository, Registrar & Share Transfer Agent, GST Suvidha Provider, Academic Depository, and de-duplication of claims for Pradhan Mantri Jeevan Jyoti Bima Yojna.
