CDSL becomes first depository to open branch in IFSC at GIFT City

CDSL earns revenue from transaction charges, account maintenance and settlement levy paid by depository participants

Over two weeks after getting regulatory nod, Central Depository Services Ltd (CDSL) became the first depository to inaugurate a branch within the International Financial Services Center (IFSC) at Gujarat International Fin-Tec City (GIFT City).

According to Nehal Vora, managing director & CEO of CDSL, a branch within IFSC will now help in introducing products like depository receipts, masala bonds, exchange-traded funds (ETFs) along with hybrid products and similar delivery-based trading.

"This will help provide convenient, dependable and secure depository services. It will lead to more delivery based transactions. In last three years of its operation, GIFT City has seen $2.5-$3 billion  of