SEBI Chairperson Launches CDSL’s Multi-Lingual Initiativesfor ease of doing business for investors
Mumbai, January20, 2024: In celebration of its silver jubilee year, Central Depository Services (India) Limited (CDSL), Asia's first listed depository, proudly announces the launch of two unique multi-lingual initiatives to signify its commitment to inclusivity and accessibility in the capital market landscape.
These initiatives were launched by SEBI Chairperson Smt. Madhabi Puri Buchat the silver jubilee function held on 17 January 2024.
Empowering inclusion with Multi-Lingual CAS: CDSL introduces a revolutionary upgradation in investor CAS, enabling investors to receive their statements in their preferred language amongst 23 diverse Indian languages. This 'Apka CAS – Apki Zubaani' initiative is a testament to easier accessibility, offering investors a consolidated view of their securities held in demat account in a language of their choice.
Breaking communication barriers with 'CDSL Buddy Sahayta 24*7' Chatbot: A unique multi-lingual chatbot on CDSL website, 'CDSL Buddy Sahayta 24*7,' aims to simplify investors' journeys toward 'Atmanirbharta' or self-sufficiency. By offering support in currently four languages to begin with, the chatbot becomes a constant companion, providing round-the-clock assistance to investors navigating through the nuances of our securities markets.
CDSL’s on-going efforts to deepen the market awareness in the areas of cybersecurity and financial literacy were also showcased with –
Unveiling of Thought Leadership Report on 'Reimagine Digital Trust in Capital Markets': The report, prepared in collaboration with knowledge partners KPMG, is a culmination of key takeaways from CDSL’s Cyber Security Symposium held recently and it underpins a significant stride in understanding digital trust, global financial interconnectedness, and resilience against emerging cyber threats.
Successful completion of 'Neev' - A 25 city Pan-India Financial Literacy Campaign:As part of its 25th-anniversary celebrations, CDSL successfully concluded the 'Neev' campaign, spreading financial literacy across 25 cities. Touching lives in diverse communities, including armed forces and rural areas, this initiative embodies the commitment to spread financial literacy awareness across breadth and depth of the country.
Speaking on the silver jubilee event,Shri Nehal Vora, MD & CEO said, “As we celebrate 25 years of our incredible journey, it is our distinct honour to witness the SEBI Chairperson launch CDSL’s pivotal initiatives.
Guided by our core value of inclusivity, these new launches are a key milestone for us.Inclusive Trust is that one driving force which we see as CDSL’score ethos as we journey from Silver to a Century. Our aspiration is to venture into every realm necessary to build and elevate Inclusive Trust.
Whether it entails leveraging technology to empower each investor equitably, fortifying secured access to platforms, or empowering investors to achieve self-sufficiency through effective financial education and tools transcending language barriers – our vision is clear. The only language we speak is that of inclusive trust, envisioning a united CDSL, where our ethos resonates with unified trust.”.
Central Depository Services (India) Limited (CDSL)is India’s leading and only listed depository, with an objective of providing convenient, dependable and secure depository services at affordable cost to all market participants. CDSL received its certificate of commencement of business from SEBI in February 1999 and it facilitates holding and transacting securities in the electronic form and facilitates settlement of trades on stock exchanges.
CDSL maintains and services 10 crore+ Demat accounts of Investors or Beneficial Owners (BOs) spread across India. These BOs are serviced by CDSL’s 580+ Depository Participants (DPs) from over 20,000+ locations.
CDSL along with its subsidiaries also provides a host of services to the financial intermediaries and markets, these include:
● CDSL Ventures Limited (CVL) is a wholly owned subsidiary of CDSL and the 1st and largest KYC Registration Agency (KRA). CVL conceptualised, designed and implemented the KRA system in association with AMFI for all mutual funds in 2008. Currently, CVL has over 4.6 crore fully digitised KYC records which are uploaded and accessed by intermediaries spread across the country. CVL also provides services relating to Registrar & Share Transfer Agent (RTA), GST Suvidha Provider (GSP), Academic Depository and performing de-duplication of claims of Pradhan Mantri Jeevan Jyoti Bima Yojna.
● CDSL Insurance Repository Limited (CDSLIR) is a company registered under the Companies Act, 1956. CDSL IR has received registration certificate from Insurance Regulatory and Development Authority of India (IRDAI) to act as an ‘Insurance Repository’ under the Guidelines on Insurance repositories and electronic issuance of insurance policies dated 29th May 2015.
● CDSL Commodity Repository Limited (CCRL) allows the Farmer, Farmers Producer Organizations (FPOs), Manufacturers, etc., to obtain electronic warehouse receipts (negotiable or non-negotiable) [eNWRs or eNNWRs] in a demat account against deposit of commodities in any of the warehouses registered with Warehousing Development and Regulatory Authority (WDRA).
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