In a bid to promote inclusivity and accessibility in the capital market, SEBI Chairperson Madhabi Puri Buch launched two multi-lingual initiatives of Central Depository Services Ltd (CDSL) at its silver jubilee function on January 17, 2024.
Multi-Lingual CAS: A Step Towards Investor Empowerment
The first initiative is the Multi-Lingual Consolidated Account Statement (CAS), which allows investors to receive their statements in any of the 23 diverse Indian languages. This ‘Apka CAS – Apki Zubaani’ initiative is a testament to CDSL’s commitment to offer investors a consolidated view of their securities held in a demat account in a language of their choice.
CDSL, which is Asia’s first listed depository, said that this initiative will help investors understand their portfolio better and make informed decisions. It will also encourage more participation from the rural and semi-urban areas, where language barriers often hinder financial inclusion.
CDSL Buddy Sahayta 24*7: A Chatbot for Round-the-Clock Assistance
The second initiative is the CDSL Buddy Sahayta 24*7, a multi-lingual chatbot on the CDSL website that aims to simplify investors’ journeys toward self-sufficiency. The chatbot, which currently supports four languages, provides round-the-clock assistance to investors navigating through the nuances of the securities markets.
The chatbot can answer queries related to demat accounts, KYC, e-voting, e-locker, e-DIS, and other services offered by CDSL. It can also guide investors on how to access various features and functionalities on the CDSL website and mobile app.
CDSL’s Ongoing Efforts to Enhance Cybersecurity and Financial Literacy
Apart from these two initiatives, CDSL also showcased its ongoing efforts to deepen market awareness in the areas of cybersecurity and financial literacy. It unveiled a thought leadership report on ‘Reimagine Digital Trust in Capital Markets’, prepared in collaboration with KPMG, which highlights the key takeaways from CDSL’s Cyber Security Symposium held recently.
The report underpins a significant stride in understanding digital trust, global financial interconnectedness, and resilience against emerging cyber threats. It also provides insights and recommendations on how to foster a culture of cyber hygiene and enhance cyber resilience in the capital market ecosystem.
CDSL also announced the successful completion of ‘Neev’, a 25-city pan-India financial literacy campaign that was launched as part of its 25th-anniversary celebrations. The campaign touched lives in diverse communities, including armed forces and rural areas, spreading financial literacy awareness across the breadth and depth of the country.
Speaking on the occasion, Nehal Vora, MD & CEO of CDSL, said, “As we celebrate 25 years of our incredible journey, it is our distinct honour to witness the SEBI Chairperson launch CDSL’s pivotal initiatives. These initiatives reflect our vision to empower investors with greater convenience, choice, and control over their investments. We are confident that these initiatives will further strengthen investor confidence and trust in the capital market.”