Suspense Crime Sach Ka Dam
The National Securities Depository Limited (NSDL) on Friday said that the value of securities held in demat form in the depository will reach Rs 500 lakh crore (US$ 6 thousand billion or $ 6 trillion) in September 2024. According to the statement, it took 18 years for the depository to reach Rs 100 lakh crore in June 2014. It took another six years to touch Rs 200 lakh crore in November 2020 and four years to touch the milestone of Rs 500 lakh crore. This amount is also more than the GDP of top economies like India, Japan, and Germany. India’s GDP is $ 3.94 trillion, Japan’s GDP is $ 4.11 trillion and Germany’s GDP is $ 4.59 trillion.
Work became paperless in 1996
NSDL interim managing director (MD) S Gopalan said in the statement, “We thank investors, market participants, regulators, and other stakeholders on this historic occasion.” NSDL is a SEBI-registered market infrastructure unit, which provides a wide range of products and services to the financial and securities markets in the country. After the introduction of the Depositories Act in 1996, NSDL led the way in making securities paperless in India in November 1996.
Approval received for IPO
Last month, the depository received approval from SEBI to launch its initial public offering (IPO). The approval from the market regulator came more than a year after the company submitted its initial IPO documents to the regulator in July 2023.
What is NSDL?
When we open a savings account, it is opened in a bank or any financial institution. Similarly, a Demat account is opened through a depository participant i.e. DP. There are two depositories in India. NSDL is one of them. We cannot directly contact the depository to open a demat account. Therefore, we open a demat account through depository participants registered with NSDL. Most stock broking houses work as DP.
