Central Depository Services (India) Limited (CDSL) has launched two initiatives aimed at promoting inclusivity and accessibility in the capital market landscape. These include inclusion of multi-lingual Client Account Statement (CAS) and launch of CDSL Buddy Sahayta 24*7' Chatbot.
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With the 'Apka CAS – Apki Zubaani' initiative, investors can now receive their statements in any of the 23 diverse Indian languages, promoting ease of accessibility, CDSL said in a statement.
"This initiative will offer investors a consolidated view of their securities held in a demat account in a language of their choice," it said.
On the other hand, the newly launched 'CDSL Buddy Sahayta 24*7' chatbot is aimed to simplify investors' journeys towards self-sufficiency.
Initially available in four languages, the chatbot will provide round-the-clock assistance to investors navigating the complexities of the securities market.
This initiative aligns with CDSL's ongoing efforts to enhance market awareness, especially in the realms of cybersecurity and financial literacy, CDSL said.
Additionally, CDSL, in collaboration with knowledge partners KPMG, presented a Thought Leadership Report titled 'Reimagine Digital Trust in Capital Markets.'
Further, as part of its 25th-anniversary celebrations, CDSL concluded the 'Neev' campaign, a Pan-India Financial Literacy initiative spanning 25 cities.
CDSL, India’s listed depository, maintains and services over 10 crore demat accounts of Investors or Beneficial Owners (BOs) spread across India.
It began operations in February 1999 and facilitates holding and transacting in securities in electronic form and facilitates settlement of trades on stock exchanges. Its major shareholders are the BSE, Standard Chartered Bank, PPFAS Mutual Fund, LIC, and Canara Bank.
The subsidiaries of CDSL include CDSL Ventures, which is the first and the largest KYC registration agency since 2008 with over 4.5 crore records; CDSL Insurance Repository and CDSL Commodity Repository.
Meanwhile, the total number of new demat accounts opened in December 2023 reached a historic high of 42 lakh. With this, the number of demat accounts in India now stands at 13.93 crore. This is a 50% surge compared to November, which saw 28 lakh new demat accounts.
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