An important update has come for those who invest in Mutual Funds. There is going to be a big change in the charges in Central Depositories Services Limited (CDSL) from the first of October.
The company has announced a uniform tariff, which will directly affect the pockets of investors. The new rates will be applicable from October 1 and due to this, there is a movement in the shares of CDSL as well.
CDSL informed about the change in uniform tariff
According to the latest information released by CDSL, changes will be made in the uniform tariff from October 1. Let us tell you that after the order of market regulator SEBI, all companies, depositories and exchanges are reviewing their tariff plans. Under this, CDSL has announced a tariff of Rs 3.50 per debit transaction.
Changes made by CDSL
CDSL has offered a discount of Rs 0.25 per transaction on mutual funds and bond issues. Along with this, the discount of Rs 0.25 per transaction on women accounts will continue as before. Earlier, CDSL’s rate per debit transaction was between Rs 3.75 and Rs 5.5.
Functions of Depositories
Central Depositories Services Limited (CDSL) and National Securities Depositories Limited (NSDL) are the two major depositories in India. Both these depositories handle various types of securities such as equities, bonds, and ETFs.
MCX also changed the charges
Just two days ago, Multi Commodity Exchange (MCX) had also announced the transaction charges for options. MCX had revised the transaction charges and made them equal. SEBI has given everyone a deadline of 1 October 2024.
Know about CDSL
CDSL plays a vital role in the Indian equity market by providing depository services and facilitating the electronic storage and transfer of securities. The company has a low market share in demat accounts while NSDL has the highest market share in this case. CDSL is Asia’s only listed depository service with a market cap of around Rs 31,300 crore.
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