What is the difference between NSDL and CDSL?
NSDL and CDSL are both Depository Participants (DPs) in India, regulated by SEBI, offering electronic holding of securities, facilitating trade settlements, and providing account statements. Here are key differences between them:
Primary Market:
- NSDL: Primarily associated with the National Stock Exchange (NSE), established in 1996.
- CDSL: Primarily associated with the Bombay Stock Exchange (BSE), established in 1999.
Demat Account Number Format:
- NSDL: 16-digit alphanumeric number starting with “IN.”
- CDSL: 16-digit numerical code.
Promoters:
- NSDL: Promoted by IDBI Bank, Unit Trust of India, and NSE.
- CDSL: Promoted by the BSE and leading banks.