Damani new chairman of CDSL
Mumbai: Former BSE president Mr. Madan Gopal Damani was today appointed chairman and managing director of the Central Depository Services (India) Ltd., a venture jointly promoted by the BSE and a clutch of banks and financial institutions.

True to his style he has begun with a bold step of doing away with the concept of custody charges. His other immediate concern is to ensure that there is no charge levied on inter-depository transfers, an issue, which is the subject matter awaiting finalisation by a Sebi-appointed committee.

As on date, CDSL has about 50,000 investor accounts which is expected to go up to about 2 lakh in the next couple of months. Incidentally, NSDL with over four year history has over 28.5 lakh retail accounts and value of securities dematerialised over Rs 376,000 crore.
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