In a remarkable achievement for the fiscal year 2024, Central Depository Services Limited (CDSL) set a new standard in the financial services sector by registering an extraordinary 1.09 crore new demat accounts in the final quarter alone. This surge boosted the annual total to over 3.26 crore accounts, making CDSL the first depository to exceed 11.56 crore accounts.
This growth underscores CDSL’s commitment to improving its digital services, which include innovations like Applications Supported by Blocked Amount (ASBA), electronic annual general meetings (e-AGM), electronic delivery instruction slips (eDIS), and the Margin pledge mechanism. These enhancements have significantly contributed to CDSL’s appeal, attracting a larger investor base, particularly enthusiastic about the user-friendly digital options.
Fiscal momentum was not limited to account openings. The fourth quarter also recorded a doubling of CDSL’s operating income and net profits compared to the previous year, signaling heightened retail investor interest in equities. This interest has been especially pronounced among younger investors and those engaging in systematic investment plans (SIPs).
The economic backdrop for this growth has been favorable, supported by positive earnings forecasts, political stability, and controlled inflation. In March 2024 alone, CDSL opened 3.1 million new accounts, maintaining a consistent monthly average throughout the year.
CDSL’s impressive performance over the fiscal year illustrates not just a success in numbers, but also the deepening relationship between the depository and its investors. It highlights CDSL’s critical role in fostering a more inclusive financial landscape and empowering more people to participate in the equity markets.
