{"id":48199,"date":"2026-03-19T18:05:19","date_gmt":"2026-03-19T12:35:19","guid":{"rendered":"https:\/\/dailynewsindia.co.in\/index.php\/2026\/03\/19\/cdsl-kpmg-in-india-report-calls-for-data-led-transformation-of-indias-securities-market-proposes-3c-framework\/"},"modified":"2026-03-19T18:05:19","modified_gmt":"2026-03-19T12:35:19","slug":"cdsl-kpmg-in-india-report-calls-for-data-led-transformation-of-indias-securities-market-proposes-3c-framework","status":"publish","type":"post","link":"https:\/\/dailynewsindia.co.in\/index.php\/2026\/03\/19\/cdsl-kpmg-in-india-report-calls-for-data-led-transformation-of-indias-securities-market-proposes-3c-framework\/","title":{"rendered":"CDSL\u2013KPMG in India Report Calls for Data-Led Transformation of India\u2019s Securities Market, Proposes \u20183C\u2019 Framework"},"content":{"rendered":"<div>\n<p><strong>Mumbai (Maharashtra) [India], March 19:<\/strong> Central Depository Services (India) Limited (\u201cCDSL\u201d), Asia\u2019s first listed depository, in collaboration with KPMG in India, has released the third edition of its Reimagine Thought Leadership report titled \u201cReimagine: Securities Market through Data Synergy\u201d, following its third annual Reimagine Symposium held earlier this year. The report proposes a\u00a0<strong>Creation\u2013Control\u2013Culture (3C) framework<\/strong>\u00a0to guide data-led transformation across India\u2019s securities market ecosystem.<\/p>\n<p>The report highlights that \u201cdata risk is market risk,\u201d and outlines how a structured data governance approach can strengthen resilience, transparency, and innovation across India\u2019s securities market ecosystem. It proposes a 3C framework that enables market institutions to build shared data infrastructure, embed robust governance and cyber safeguards, and foster responsible data practices across the ecosystem. The report also presents the concept of a central regulatory operating model within market institutions, helping align regulatory expectations, improve interoperability across market participants, and enable more effective risk management and investor protection in an increasingly data-driven market.<\/p>\n<p><strong>Shri. Nehal Vora, MD &amp; CEO, CDSL<\/strong>, said:\u00a0<em>\u201cData synergy is the force that brings Creation, Control and Culture together \u2013 enabling innovation while strengthening trust. When data becomes intelligent and interoperable, it powers a market that is resilient by design and trust-enabled at its core. Such an ecosystem goes beyond facilitating transactions; it empowers the Atmanirbhar investor and supports India\u2019s journey towards a truly Viksit Bharat.\u201d<\/em><\/p>\n<p>India\u2019s securities market is witnessing rapid expansion in investor participation. While household participation is currently estimated at around 20%, leaving significant headroom for future growth compared with more mature markets such as the United States, the expanding investor base presents a strong opportunity to deepen financial inclusion and strengthen investor awareness across the country.<\/p>\n<p>Further, the report highlights four key opportunity areas where data can transform the ecosystem: stronger price discovery and curated products, personalised investor experience at scale, improved risk intelligence and fraud prevention, and more agile supervision through Regulatory Technology (RegTech) and Supervisory Technology (SupTech).<\/p>\n<p>Commenting on the report,\u00a0<strong>Shri. Akhilesh Tuteja, Partner and National Leader, Clients &amp; Markets, KPMG in India<\/strong>, said:\u00a0<em>\u201cHuman intelligence has driven modern economies; the next phase of growth will depend on how well we harness intelligent data. As this report suggests, data risk is market risk. Treating data as core market infrastructure is critical for India to sustain market leadership and investor confidence\u201d<\/em><\/p>\n<p>The proposed\u00a0<strong>3C framework<\/strong>\u00a0outlines a structured path for building a trusted data ecosystem:<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Creation<\/strong>\u00a0celebrates India\u2019s capacity to build shared utilities including market data dictionaries, machine-readable disclosures, secure API pipelines, and privacy-preserving simulation environments that unlock research and product innovation across the ecosystem.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li><strong>Control<\/strong>\u00a0strengthens the system with smart guardrails including privacy-by-design, standardized lineage, cyber resilience programs (including post-quantum readiness), and responsible AI governance (including the vision of an industry-wide AI model registry). These controls accelerate progress by making it sustainable and trusted.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li><strong>Culture<\/strong>\u00a0makes the transformation durable by tying incentives to data quality, explainability, responsiveness, and investor outcomes; and by scaling multilingual investor education that converts awareness into confident participation.<\/li>\n<\/ul>\n<p>The report also draws on insights from the\u00a0<em>Reimagine: Securities Market through Data Synergy<\/em>\u00a0symposium, which was attended by\u00a0<strong>Shri Tuhin Kanta Pandey, Chairman, SEBI, as Chief Guest<\/strong>, and\u00a0<strong>Shri Sandip Pradhan, Whole-Time Member, SEBI, and Shri Keki Mistry, Former Vice Chairman &amp; CEO, HDFC, as Guests of Honour<\/strong>. The symposium brought together leaders from across the securities market, financial services, and technology ecosystem, with panel discussions exploring themes such as\u00a0<strong>\u201cData\u2019s Superpower \u2013 Driving Innovation at Scale,\u201d \u201cData is Capital \u2013 Trust is the Currency,\u201d and \u201cData as DNA \u2013 A Cultural Shift.\u201d<\/strong><\/p>\n<p>As data becomes the backbone of financial markets, the report underscores the need for coordinated action across regulators, market infrastructure institutions, intermediaries and investors to build a resilient and trusted data ecosystem that can support India\u2019s vision of a\u00a0<strong>Viksit Bharat<\/strong>.<\/p>\n<p>The full report is available here:\u00a0<a href=\"https:\/\/www.cdslindia.com\/Publications\/Thought%20Leadership%20Reports.html\" target=\"_blank\" rel=\"noopener\"><strong>CDSL Thought Leadership Report<\/strong><\/a>\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai (Maharashtra) [India], March 19: Central Depository Services (India) Limited (\u201cCDSL\u201d), Asia\u2019s first listed depository, in collaboration with KPMG in India, has released the third edition of its Reimagine Thought Leadership report titled \u201cReimagine: Securities Market through Data Synergy\u201d, following its third annual Reimagine Symposium held earlier this year. The report proposes a\u00a0Creation\u2013Control\u2013Culture (3C) framework\u00a0to&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/dailynewsindia.co.in\/index.php\/2026\/03\/19\/cdsl-kpmg-in-india-report-calls-for-data-led-transformation-of-indias-securities-market-proposes-3c-framework\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;CDSL\u2013KPMG in India Report Calls for Data-Led Transformation of India\u2019s Securities Market, Proposes \u20183C\u2019 Framework&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":48200,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[54],"class_list":["post-48199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/48199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/comments?post=48199"}],"version-history":[{"count":0,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/48199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media\/48200"}],"wp:attachment":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media?parent=48199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/categories?post=48199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/tags?post=48199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}