CDSL full form is – Central Depository Services Limited.
It is jointly promoted by the century-old Bombay Stock Exchange (BSE), State Bank of India (SBI), Bank of India (BOI), Bank of Baroda, Standard Chartered Bank, Union Bank of India, Axis Bank and HDFC Bank.
It is the second most popular public sector depository service in India after NSDL.
Gone are the days of physical certificates of stocks and securities. As a result, the hazardous task of physically handling these certificates and their transport for the name change of its current holder is not anymore with the depository services of CDSL. This happens before the book closures happen for ownership and dividends.
CDSL Full Form and Meaning
CDSL stands for Central Depository Services Limited, it was established in 1999 and handles over 2.78 crore investor accounts. CDSL is promoted by the Bombay Stock Exchange (BSE). HDFC Bank, Standard Chartered Bank, and Canara Bank also have a stake in CDSL. It has its presence in 120 cities/towns with 222 branches. On 30th June 2017, CDSL was listed on NSE and became the first depository to be listed in the Asia – Pacific Region.
Role of CDSL
All the services provided by CDSL are similar to NSDL like:
- Trade Settlement
- Dematerialization
- Rematerialization
- Demat Account Maintenance
- Periodic Status Reports
- Account Statements etc.