Central Depository Services (India) Limited (CDSL), Asia's first listed depository, launched two multilingual initiatives for improving inclusivity in investor access. Securities and Exchanges Board of India (Sebi) Chairperson Madhabi Puri Buch launched a multi-lingual CAS initiative and a multi-lingual chatbot on January 17, 2023, at a celebratory function in Mumbai.
Multi-Lingual CAS: CDSL revolutionised Investor Consolidated Account Statements (CAS) with an initiative called 'Apka CAS – Apki Zubaani.' Consolidated Account Statement (CAS) is a statement consisting of all transactions in a month and also holdings in the demat account(s) held with CDSL and NSDL, as well as in units of mutual funds held in dematerialised form. Investors can now receive CAS statements a consolidated view of their securities held in a demat account, in their chosen language among 23 Indian languages, enhancing accessibility to more investors.
CDSL Buddy Sahayta 24*7' Chatbot: A multilingual chatbot, 'CDSL Buddy Sahayta 24*7' chatbot on the CDSL website, available in four languages initially, will assist investors round the clock, fostering self-sufficiency.
By offering support in currently four languages, to begin with, the chatbot becomes a constant companion, providing round-the-clock assistance to investors navigating through the nuances of our securities markets, a CDSL release said.
Speaking at the Silver Jubilee event, Nehal Vora, MD & CEO, of CDSL said, “Guided by our core value of inclusivity, these new launches are a key milestone for us. Inclusive Trust is that one driving force which we see as CDSL’s core ethos as we journey from Silver to a Century. We aspire to venture into every realm necessary to build and elevate Inclusive Trust.
Whether it entails leveraging technology to empower each investor equitably, fortifying secured access to platforms, or empowering investors to achieve self-sufficiency through effective financial education and tools transcending language barriers – our vision is clear.”.
CDSL also informed about the successful completion of 'Neev' - A 25-City Pan-India Financial Literacy Campaign. As part of the 25th-anniversary celebrations, CDSL concluded the 'Neev' campaign, spreading financial literacy across 25 cities, including armed forces and rural areas.
Sebi monthly bulletin released on January 18, 2023, said the Indian market witnessed a surge in demat accounts, with NSDL adding 4.3 lakh and CDSL adding 37.5 lakh accounts in December 2023. The total number of demat accounts reached 3.46 crore with NSDL and 10.47 crore with CDSL at December end, the Sebi bulletin said.