Mumbai, Nov 14 (IANS) The National Securities Depository Ltd (NSDL) has achieved a historic milestone of crossing Rs.100 lakh crore custody value of securities held in its demat accounts, standing currently at Rs.115 lakh crore, an official said here on Saturday.
The custody value of NSDL – which holds more than 89 percent of the securities in dematerialised mode in the country – is higher than the aggregate deposits across banks in India.
Union Finance Minister Arun Jaitley was present at the NSDL headquarters to celebrate the momentous occasion for the Indian capital markets.
The NSDL now services more than 14 million investor accounts through its participants in more than 18,400 locations in 1,748 cities/towns in the country, making it one of the largest depositories in the world in terms of number of demat accounts.
Besides the basic demat related services, NSDL offers value added services to investors and is contributing to the ‘Digital India’ drive through various internet and mobile-based initiatives like SPEED-e, IDeAS, STeADY, SPICE, SIMPLE, e-voting, venue voting, Mobile Application, etc.
It has also started sending Consolidated Account Statements with details of investments across demat accounts, mutual funds and insurance policies in electronic format.
This is part of the overall path breaking vision to enable all financial assets to be held electronically in a single demat account, articulated by Jaitley in his budget speech of July 2014.