Padmaja Chunduru: Technology, trust and goal achievement is our bird’s eye view: NSDL MD Padmaja Chunduru

Hyderabad, September 25: National Securities and Depositories Limited (NSDL) primarily serves the stock market and has since focused on new products and services. It will expand its services to new products such as bonds and ‘Electronic Gold Receipt’ (EGR) as per current demand, Padmaja Chunduru, MD and CEO of NSDL revealed in an interview with ETV India.

Q) You are a career banker and head of NSDL. How did this change come about?

Thanks to the great team at NSDL, the transition has been quite smooth. I think the capital markets are now going through a phase, which a few years ago was the pursuit of financial inclusion (JAM trinity – Jandhan, Aadhaar, Mobile). As banking through digital channels became more accessible, the number and volume of users increased, especially in payments. Likewise, the investor base in the capital market is expanding rapidly thanks to digital technology, simplified processes and ease of transactions. There are many similarities in the change process. If you look at the other side, it’s very exciting to be in NSDL to experience it now

Q) What challenges and opportunities did you see before NSDL when you took over the position of MD and CEO of NSDL?

NSDL was the first depository institution in India. NSDL coined the term demat and played an important role in the development of capital markets in India. “I am excited to be part of NSDL’s journey in this anniversary year. Our mission is to achieve technology, trust and purpose and one of our core services is to provide seamless operations and quality services. Operational efficiency through our processes and technology And the focus on resilience must be renewed.”

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The significant growth observed in demat accounts over the past two years is due to the participation of people from across the country’s population. As an MII, it becomes our responsibility to focus on investor awareness so that people invest their hard-earned money in the right products based on their risk appetite alone. NSDL launched an initiative “Bazar ka Eklavya” for graduate students. It is an online program delivered in Hindi and other regional languages. Also on the product side, as the industry evolves, we are working to develop the bond market, launching electronic gold notes as an offering.

Q) What changes have you made in the organization?

With increasing participation in the stock market across the country and especially since a large proportion of them are first time investors and the modern generation, it is even more important that they are aware of the basics of investing. It is also important that the knowledge is given in simple language, in their native language and in short capsules. For this, we came up with the concept of “Bazar Ka Eklavya”, an online program in regional languages, aimed at graduate students. The concept was launched in May this year by the Union’s finance minister, Nirmala Sitharaman. The initiative was expanded to 75 cities in capsule form as “MKE-Express” as part of the ‘Azadi Ka Amrita Mohotsav’ celebrations. Bringing a wave of rampant automation and digitization It is imperative that we make our processes more flexible and customer-centric, be innovative and collaborate in identifying and working on new initiatives, improving operational efficiencies and improving technology. In this direction, we at NSDL have embarked on a transformation journey called “Program – API” (Aspire, Perspire, Inspire). His goal is to rethink all functions/processes and work on improving the customer experience.

Q) What new products and services can NSDL offer in addition to existing services? Do you have plans to launch these new services?

• Improving the NSDL Consolidated Account Statement (CAS) offering and dematerialization of other asset classes, to give investors an overview of all their holdings

• Includes some products in development

• Develop new products to further expand the bond market

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