CDSL gets nod to open IFSC at GIFT City

New Delhi: Central Depository Services (India) Ltd on Monday said it has received approval from markets regulator Sebi for setting up its IFSC (International Financial Services Centre) branch at the GIFT City in Gujarat.

CDSL will be the first depository to launch its branch operations from the precincts of IFSC in the GIFT city.

"Adding to the list of many firsts, CDSL besides being the first listed depository in India would also be the first depository to set-up its branch at the IFSC Center at GIFT City.

We are fully committed to bring in the world class sophistication and services in the products as permitted from time to time," Nehal Vora MD and CEO of CDSL said in a statement.

"Additionally, I am sure that it would contribute to the development of the market with the introduction of delivery-based trading to the existing suite of the products traded on the exchanges at the IFSC Centre.

It would also enable issuers to list their issuances like bonds and depository receipts thereby enhancing the value proposition for the IFSC Centre," he added.