NSDL aims at 10 lakh more accounts in 2001
Mumbai: The National Securities Depository Ltd. (NSDL) has set itself a target of increasing its client accounts by an additional 10 lakh, taking the total to 44 lakh investor accounts in the year 2001. According to Mr. C.B. Bhave, managing director, the target was achievable considering that while it took the depository 21 months to open the first 50,000 accounts, the additional 50,000 were opened in just three months.

Currently NSDL is registering more than one lakh investor accounts every month.

As per NSDL data, as on December 16, 2000, more than 27,816 million shares having a value of Rs 4,06,500 crore ($88 billion) were dematerialised. Currently around 1,630 scrips are being traded in the compulsory demat mode by all investors. The equity markets were expected to enter a paperless system in the first quarter of 2001.

More than 26 corporate have joined NSDL to make 235 debt instruments for dematerialisation. Some of the major issuers of debt instruments such as ICICI Ltd., IDBI, HDFC, L&T, Reliance, Indo Gulf Corporation, Ford India Ltd., etc are now offering this option to their bond holders (debenture holders).

NSDL also offers services such as direct credit of shares and dividend distribution. The depository directly credits investor accounts with securities arising out of corporate

actions such as bonus issue, capital restructuring, amalgamation, demerger, subdivision. It also includes crediting of shares on allotment in a public or rights issue.
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