Chennai and
other coastal areas in Tamil Nadu were devastated due to very heavy rainfall
and the resultant flooding. Thousands of people have been displaced, lost their
valuable belongings which include information on financial assets such as demat
account statement, insurance policies, fixed deposits, KYC documents etc.
During these adverse conditions, it would be a great relief to have access to
one’s investments/assets for immediate assessment of one’s own financial
position to liquidate, if need be, some of the assets to meet any contingency.
To this end, CDSL has emailed a statement of holding as on
November 30, 2015 to its BOs residing in Chennai, Cuddalore and Kanchipuram. In
order to facilitate BOs to have access to their KYC documents, CDSL has also
dispatched the copies of KYC documents (Proof of Identity and Address) along
with the statement. This would enable BOs to apply for duplicate documents with
the concerned authorities incase their original KYC documents have been
destroyed in the floods.
As a Market Infrastructure institution with over 1 crore
demat accounts, CDSL is working with the Government and regulators in financial
sector to make ‘single operational demat account for all financial assets’ a
reality.
Under ‘Single Demat Account’ it is expected that assets such as fixed
deposits of Banks and Corporates, Insurance Policies, Pension Products/Records,
Warehouse Receipts, etc., will be kept in demat form. This will enable a BO to
have immediate liquidity whenever required especially during adverse conditions
like floods, earthquakes etc. This development will significantly reduce the
cost to investors while improving the service levels in the financial sector. 2
About CDSL:
1. CDSL, a leading securities depository, is promoted by BSE
Ltd. and by leading public and private sector Banks, such as SBI, BoI, BoB,
HDFC Bank, Standard Chartered Bank, etc. Presently, CDSL’s services are
delivered by 577 Depository Participants to over 1.02 crore depository account
holders from over 16,100 locations across the country.
2. CDSL’s wholly owned subsidiary CDSL Ventures Limited (CVL)
is the 1st and largest KYC Registration Agency with over 1.38 crore KYC
records.
3. CDSL Insurance Repository (CDSL IR), an insurance
repository promoted by CDSL and leading insurance companies, is one of the
leading repositories at this phase of development.
For more information on CDSL, visit
www.cdslindia.com.
For more details
Contact:
Sunil Alvares, CDSL
+91 22 66341857
sunila@cdslindia.com
Central Depository Services (India) Ltd.
No:4,"Vijaya Towers" |IIIrd Floor,
Kodambakkam High Road,
Chennai - 600 034.
Mail ID : vasudevan@cdslindia.com
Web Sites: www.cdslindia.com
www.cirl.co.in
www.cvlkra.com
www.evotingindia.com
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