CDSL inaugurates IFSC branch at GIFT City
This is the India’s first IFSC branch
cityairnews
Jan 6, 2020 10:25
0
GIFT City, Gujarat: Central Depository Services (India) Limited (CDSL), the first listed depository in India, inaugurated its first IFSC Branch today at the GIFT City, Gandhinagar in Gujarat.
CDSL’s IFSC branch intends to contribute to the growth of the financial markets with the introduction of delivery-based trading to the existing suite of the products traded on the exchanges at the IFSC Center.
The ceremony was hosted by CDSL Chairman, Shri B. V. Chaubal, Public Interest Director, Shri Bimal N. Patel and MD & CEO – Shri Nehal Vora.
Speaking on the historic event, Mr. B V Chaubal, Chairman of CDSL said: “CDSL becoming the first depository in GIFT City is a new accomplishment. CDSL was set up with the objective of providing convenient, dependable and secure depository services and we shall continue to evolve and reach new horizons.”
The other dignitaries present were GIFT CITY Chairman, Shri Sudhir Mankad and GIFT CITY MD & Group CEO, Shri Tapan Ray, GIFT SEZ Chairman Shri Maheswar Sahu along with CGM SEBI, Shri Manoj Kumar.
Commenting on the occasion, Shri Tapan Ray, MD & Group CEO, GIFT City said, "We are delighted to welcome CDSL as 1st Depository in GIFT IFSC. Depository is an important market infrastructure institution and presence of CDSL will complete the capital markets ecosystem in GIFT IFSC. Now GIFT IFSC Exchanges can have investment products such as Depository Receipts, ETFs, Bonds etc. which will attract foreign investors’ participation and create new business opportunities for existing capital market entities in GIFT IFSC.”
