CDSL, established in 2012, is one of India's leading depositories with over 3.14 crore active demat accounts and a network of 283 registered depository participants. It supports nearly 41,000 registered companies and adds an average of over 15,000 new demat accounts daily as of FY23. Its services reach across more than 99% of Indian PIN codes and cater to clients in 186 countries. Holding around 70% market share in demat accounts as of 2024, CDSL is growing rapidly due to increased retail participation and offers digital services like e-DIS, e-voting, and paperless KYC. NSDL, India’s first depository founded in 1996, focuses more on institutional and large investors. It is promoted by entities like IDBI and NSE and is a dominant player in segments such as government securities, corporate bonds, and institutional holdings. NSDL also provides services like ASBA for IPOs and manages the Tax Information Network (TIN). Both CDSL and NSDL offer a range of common services including electronic maintenance of shares and securities, conversion between physical and electronic formats, trade settlements on a T+1 basis, pledging of securities, managing corporate actions like dividends and splits, enabling electronic voting for shareholders, and ensuring compliance with regulatory requirements. NSDL also operates through subsidiaries such as NDML, which provides services like e-governance, KYC, insurance repository, and skill registry systems. Another subsidiary, NSDL Payments Bank Ltd, functions as a digital bank offering remittance services, Aadhaar-enabled payments, UPI, point-of-sale operations, and distribution of insurance and mutual fund products.
CDSL, established in 2012, is one of India's leading depositories with over 3.14 crore active demat accounts and a network of 283 registered depository participants. It supports nearly 41,000 registered companies and adds an average of over 15,000 new demat accounts daily as of FY23. Its services reach across more than 99% of Indian PIN codes and cater to clients in 186 countries. Holding around 70% market share in demat accounts as of 2024, CDSL is growing rapidly due to increased retail participation and offers digital services like e-DIS, e-voting, and paperless KYC. NSDL, India’s first depository founded in 1996, focuses more on institutional and large investors. It is promoted by entities like IDBI and NSE and is a dominant player in segments such as government securities, corporate bonds, and institutional holdings. NSDL also provides services like ASBA for IPOs and manages the Tax Information Network (TIN). Both CDSL and NSDL offer a range of common services including electronic maintenance of shares and securities, conversion between physical and electronic formats, trade settlements on a T+1 basis, pledging of securities, managing corporate actions like dividends and splits, enabling electronic voting for shareholders, and ensuring compliance with regulatory requirements. NSDL also operates through subsidiaries such as NDML, which provides services like e-governance, KYC, insurance repository, and skill registry systems. Another subsidiary, NSDL Payments Bank Ltd, functions as a digital bank offering remittance services, Aadhaar-enabled payments, UPI, point-of-sale operations, and distribution of insurance and mutual fund products.
