The National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL), in collaboration with the Securities and Exchange Board of India (SEBI), have launched the Unified Investor App (UIP). This platform integrates MyEasi by CDSL and SPEED-e by NSDL, providing investors with a consolidated view of their financial holdings.
SEBI Chairperson Madhabi Puri Buch highlighted that this initiative democratises access to investment tools, previously available only to large institutional investors, empowering retail investors with comprehensive portfolio insights.
The Unified Investor App is accessible through the existing MyEasi app by CDSL and SPEED-e app by NSDL, available on web, iOS, and Android platforms. The success of the UIP in enhancing investor convenience will rely on key factors such as user interface design, real-time synchronization capabilities, and data accuracy. These elements are crucial in determining the functional viability of the platform.
One valuable aspect of this initiative is the capability to access a consolidated view of dematerialized securities held in both NSDL and CDSL accounts. This eliminates the need for investors to navigate between multiple platforms to keep track of their investments. As a result, portfolio management is simplified, and transparency is enhanced with a unified dashboard displaying all securities. Moreover, the platform enhances investment tracking by consolidating transaction and holding statements in one location, minimizing the inconvenience of managing multiple records.
Additionally, the platform addresses significant challenges by directly sourcing data from exchanges, depositories, and clearing corporations, effectively preventing fraudulent intermediaries from intervening. By receiving information from trusted sources, investors are better protected against fraud and unauthorized activities, alleviating longstanding concerns within the investment industry.
Key benefits
Consolidated Portfolio View: Investors can access a unified dashboard displaying their demat securities across both NSDL and CDSL accounts, eliminating the need to manage multiple platforms.
Streamlined Investment Tracking: The app offers transaction and holding statements in one place, simplifying portfolio management and reducing administrative tasks.
Enhanced Transparency and Security: By sourcing data directly from exchanges, depositories, and clearing corporations, the platform minimizes the risk of fraud and unauthorized interventions, ensuring investors receive reliable information.
Additional Features: Users can monitor open positions, margin details across various exchanges, and vote on shareholder resolutions. The app also allows taxpayers to track investment information shared with the Central Board of Direct Taxes (CBDT) on a quarterly basis, facilitating timely corrections if needed.