Dear Shareholders,
I address you with a deep sense of accomplishment and humility. CDSL was incorporated
in February 1999 and here we are in 2024, celebrating 25 years of unparalleled service to
investors.
Over the past quarter of a century, the Indian economy, and along with it, the capital
markets have undergone phenomenal transformation. And I am proud that CDSL has played a
significant role in heralding this change. Looking back, I am filled with immense
gratitude for the trust placed in us by our stakeholders that has fuelled our success. I
am confident that we will continue to empower the investors and help them create wealth
while also aid capital formation in the country.
Viksit Bharat
As a nation, we aspire to develop a prosperous India, supported by inclusive
socioeconomic change, sustainable economic development, world-class infrastructure and
technological innovation.
The key objective of Viksit Bharat is to enable every citizen to participate in the
economy by fostering an environment that promotes human development while also encouraging
innovation, investment and advances in economic growth.
The robust growth of the Indian economy would not have been possible without a vibrant
democracy, its demographic dividend and its diversity. India is now the fourth-largest
economy in the world and on the path towards becoming a 5 trillion-dollar economy by FY
2027-28. The latest estimates of the National Statistical Office pegs India's growth rate
at 8.2% in FY 2023-24.
India's capital market is the fourth-largest in the world in terms of market
capitalisation. Its economic progress has led to emergence of growing aspirational middle
class with higher risk appetite. Our efforts towards expanding financial inclusion and
improving digitalisation has enhanced the ease of trading for investors in semi-urban and
rural areas. All these factors together have resulted in greater investor participation in
capital markets. Further, during the coming years, with the penetration of internet in
rural areas, the adoption of cutting-edge technologies and increasing investor awareness
will lead to greater participation in capital markets. We also strongly believe that with
steady economic growth and consequently robust market performance, inflows into the
capital markets are expected to rise.
Technology for Trust and Empowerment
"Technology is not just a tool. It is a means to empower people to accomplish
great things," said Neil Armstrong. For the past 25 years, we have endeavoured to
assimilate emerging technological advances with the objective of enabling secure and
efficient delivery of our products and services to investors. Now investors can transact
on digital platforms with ease and efficiency, with a few clicks. We have continued to
introduce innovative digital solutions and we will continue to work on enhancing
technological capabilities to further empower investors.
Enabled by our latest technological infrastructure, we have achieved the milestone of
more than 11.56 Crore demat accounts on our books in FY 2023-24, a growth of almost 10
Crore accounts in 5 years.
This achievement stands testimony to our service excellence and technological
capability. Through our digital initiatives like eAGM and eDIS, etc., we empower investors
to access the market from the comfort of their homes.
Creating Trust
By enhancing digital access, we have created 'digital trust' with the use of a
comprehensive and reliable suite of APIs (Application Programming Interface) that securely
and seamlessly process data between the Depository Participants (DPs) and CDSL. We have
also developed robust risk management infrastructure and practices. Our visionary report,
'Reimagine Digital Trust in Indian Markets' highlights this trust building and the
importance of risk management.
During our 25th anniversary year, we have introduced two unique multilingual
initiatives, viz. 'Apka CAS - Apki Zubaani' and the 'CDSL Buddy Sahayta 24*7' chatbot,
which offer relevant information to investors in a language of their choice. We have also
taken our 2,000+ investor awareness programme to another dimension during the 25th
anniversary year through our Neev campaign, which seeks to spread financial literacy
across 25 Indian cities from Kashmir to Kanyakumari, and to touch the lives of diverse
communities, including soldiers and people in rural areas.
Building Social Equity
At CDSL, we value the contribution of all our stakeholders, including customers, value
chain partners, and employees in building a sustainable organisation. Employee well-being
is close to our heart, and we encourage a culture of open communication for building a
positive and engaging work environment. As a responsible corporate citizen, we actively
engage through corporate social responsibility (CSR) grants in socially relevant projects
across key areas such as education, healthcare, environmental sustainability and community
development. Our health and education initiatives have improved health outcomes for women
and children in rural areas and have also improved literacy. We also plan to devote our
resources and expertise towards research on enhancing cyber security. We also stand
committed to practise corporate conventions and guidelines on climate change and
environmental sustainability within the environmental, social, and governance (ESG)
framework.
Jai Hind!
Balkrishna V Chaubal
Chairperson.