Mumbai: Following initiatives by financial regulators such as the Securities and Exchange Board of India (SEBI) and Reserve Bank of India (RBI), the Central Depository Services (India) Limited (CDSL) has announced the third edition of its 'Reimagine Ideathon' to encourage young innovators to contribute their perspectives to bring more Indians into the formal financial markets.
The event will reward innovation and creativity, with a total prize pool of Rs 11.5 lakh, including Rs five lakh for the winning idea, and other prizes. Registrations for the event opened on November 19, and teams of up to four students and one mentor (from the same institute) can participate.
CDSL stated that the initiative aims to democratise investor market access through investor education and promoting conscious and responsible participation on a larger scale. The exercise aims to engage young innovative minds in designing solutions that transform how India earns, invests, and grows - to make market participation more responsible and inclusive. Participants are open to exploring solutions that utilise avenues of their choice, whether through gamification, behavioural nudges, communication, design, technology, or community-building. The solution should reflect three core principles of empowerment, inclusion, and trust.
Nehal Vora, managing director and chief executive officer of CDSL, said, "The securities market must be intuitive, inclusive, and accessible to every investor, and this Ideathon reflects CDSL's commitment to nation-building and to strengthening the vision of an Atmanirbhar investor. An educated investor is a protected investor, empowered to make informed decisions that reflect their aspirations."
CDSL is the Indian Market Infrastructure Institution (MII), facilitating electronic holding and transaction of securities and facilitating settlement of trades. It is Asia’s first listed depository and the trusted custodian of over 16.7 crore demat accounts and over 580 depository participants.
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