Mumbai, Feb 27: Central Depository Services India Ltd (CDSL), the depositorypromoted by the Bombay Stock Exchange, has taken-off sharply since it becameactive, from July 2000. The average volume settled by the country's seconddepository has doubled. The volume has increased from Rs 11.23 in July to Rs22.66 crore in the beginning of February.Speaking to The Financial Express, CDSL chairman and managing director MadanGopal Damani said, "Within a short span, we have been in existence, thedepository has achieved a substantial progress." He said, in the lastsettlement of February the settlement value had also gone up to Rs 24.63crore and is expected to go up to Rs 30 crore by end of March this year.
There has been a continuous increase in the volume from an average of Rs11.23 crore in July 2000 to Rs 12.32 crore in August, Rs 14.26 crore inSeptember, Rs 15.92 crore in October, Rs 16.14 crore in November, Rs 16.97crore in December and Rs 19.79 crore in January.
In an effort to increase the volume, CDSL is also increasing its presenceacross the country and plans to have its offices in 100 cities by March fromthe present 61. All these cities will have direct live connectivity with thedepository so that shares can be directly credited or debited from theinvestors account.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
