23 Nov 2025 | 5 Mins Read
NSDL Takes Lead in India Demat Services
Flipitmoney
NSDL and CDSL dominate India’s depository services. NSDL caters to institutions, managing a huge asset-under-custody base, while CDSL leads in sheer account numbers, thanks to retail dominance via broker fintechs. CDSL’s model is leaner, more profitable, and benefits from high-volume scale, whereas NSDL enjoys deeper strategic integration and high-value accounts.