Download
1 / 5
50 likes | 51 Views
CDSL full form is Central Depository Services Limited and is the second Indian securities depository institution. Founded in 1999, CDSL holds various securities like shares, bonds, etc., in an electronic format. Working for the Bombay Stock Exchange (BSE), CDSL is promoted by the State Bank of India, Bank of Baroda, Axis Bank, HDFC Bank, Union Bank of India, and Standard Chartered Bank.<br>CDSL demat account(https://www.edelweiss.in/demat-account) is the account you hold with CDSL.
E N D
Introduction CDSL full form is Central Depository Services Limited and is the second Indian securities depository institution. Founded in 1999, CDSL holds various securities like shares, bonds, etc., in an electronic format. Working for the Bombay Stock Exchange (BSE), CDSL is promoted by the State Bank of India, Bank of Baroda, Axis Bank, HDFC Bank, Union Bank of India, and Standard Chartered Bank. Nearly 600 stockbrokers are associated with CDSL in different capacities. The primary focus of CDSL is to provide secure and reliable depository services.
How does cdsl work? Now that you know what is CDSL, let’s understand the working mechanism of this depository institution. The operating mechanism of CDSL is just like a bank. The difference is that while banks have money from depositors, CDSL has securities from investors in an electronic format. However, you can’t directly approach CDSL and open an account. You have to do so with the help of a depository participant or DP.
What is a cdsldemat account CDSL Demat account is the account you hold with CDSL. For opening a CDSL Demat account, you need to visit a DP, the list of which can be found on CDSL’s website. Once you have selected the DP registered with CDSL, you need to submit your KYC documents including address proof and PAN Card along with the bank account details. Upon successful verification, you will get your CDSL Demat account number and other related details. The CDSL Demat account will be not only useful for availing the services of CDSL but also aid trading in stocks and other securities. Demat accounts with CDSL have a 16-digit numeric character.
