MUMBAI, DECEMBER 24, 2019 (GPN) – The Board of Directors of Central Depository Services (India) Limited (CDSL) are pleased to announce that the Securities & Exchange Board of India (SEBI) has approved the appointment of Shri B.V. Chaubal as the Chairperson of the Governing Board of CDSL. Shri Chaubal has been on the Governing Board of CDSL with effect from July 30, 2019, as Public Interest Director.

Shri Chaubal retired as Deputy Managing Director of State Bank of India, after serving for more than 38 years with the bank. As Deputy Managing Director he was overall in-charge of global markets’ operations involving bank’s investments and forex. His role inter alia included formulation of policy as well as strategy, ensuring regulatory compliance like maintenance of CRR/SLR, managing liquidity through money market operations and contributing to investment decisions, Asset Liability Management and Market Risk Management.

Shri Chaubal is currently a Visiting Professor at the National Institute of Bank Management, Pune, specializing in commercial banking, corporate governance and strategy.

He holds a Bachelor’s degree in Science from the Institute of Science Nagpur and Master’s degree in Physics from the Indian Institute of Technology, (Powai) Mumbai. He is a Certificated Associate of the Indian Institute of Bankers. ENDS

About CDSL:

Central Depository Services (India) Limited (CDSL) is India’s leading and only listed depository, with an objective of providing convenient, dependable and secure depository services at affordable cost to all market participants. CDSL received its certificate of commencement of business from SEBI in February 1999 and it facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on stock exchanges.

CDSL maintains and services 1.95 crore Demat accounts of Investors or Beneficial Owners (BOs) spread across India.  These BOs are serviced by CDSL’s 599 Depository Participants (DPs) from over 19,500 locations.

CDSL’s enduring focus on delivering quality services and innovative products has propelled it on a high-growth path in recent years. Since the financial services industry has become increasingly IT-reliant, cutting-edge technology is at the heart of CDSL’s strategic vision.

Major shareholders of CDSL include BSE, Canara Bank, HDFC Bank, LIC and Standard Chartered Bank.

CDSL along with its subsidiaries also provides a host of services to the financial intermediaries and markets, these include:

• CDSL Ventures Limited (CVL) looks after “Customer profiling and Record Keeping” for issuance of Know Your Client (KYC) acknowledgement to mutual fund investors. It is the first and largest KYC Registration Agency (KRA) in India with over 2 crore KYC records. The KRA enables a KYC compliant investor to avoid duplication of KYC process while opening an account for the purpose of trading / investment through multiple intermediaries in the securities market. CVL also provides eKYC and is registered as AUA/KUA with UIDAI.
• CDSL Insurance Repository Limited (CDSLIR) is a company registered under the Companies Act, 1956. CDSL IR has received registration certificate from Insurance Regulatory and Development Authority of India (IRDAI) to act as an ‘Insurance Repository’ under the Guidelines on Insurance repositories and electronic issuance of insurance policies dated 29th May 2015.

CDSL Commodity Repository Limited allows the Farmer, Farmers Producer Organizations (FPOs), Manufacturers, etc., to obtain electronic warehouse receipts (negotiable or non-negotiable) [eNWRs or eNNWRs] in a demat account against deposit of commodities in any of the warehouses registered with Warehousing Development and Regulatory Authority (WDRA).