CDSL Ventures gets Sebi nod to set up IFSC unit at GIFT City to serve market participants

CVL, according to the release currently maintains a large repository of investor KYC records for the domestic capital market. The expansion into GIFT City will allow the company to cater to entities and investors under the IFSCA framework, which oversees financial activities in the IFSC.

CDSL Ventures (CVL), a wholly owned subsidiary of Central Depository Services (CDSL) and a Sebi-registered KYC Agency has received a 'No Objection' from the regulator to set up a business unit at the International Financial Services Centre (IFSC) in GIFT City, Gandhinagar, a company release said on August 14.

The proposed unit will be registered with the International Financial Services Centres Authority (IFSCA) as a KYC Registration Agency, with the aim of enhancing CVL’s presence in the IFSC ecosystem and to serve market participants operating in the international financial hub.

CDSL Ventures currently maintains a large repository of investor KYC records for the domestic capital market. The expansion into GIFT City will allow the company to cater to entities and investors under the IFSCA framework, which oversees financial activities in the IFSC.

GIFT City, India’s first operational IFSC, has been positioned as a global financial services hub offering infrastructure and regulatory support for international business.

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