<?xml version="1.0" encoding="UTF-8"?>
<!--REG30 V1.0 (16-10-2025)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-08-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2025-08-31.xsd"/><xbrli:context id="OneI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">CDSL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-01</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">CDSL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-08-01</xbrli:startDate><xbrli:endDate>2026-08-01</xbrli:endDate></xbrli:period></xbrli:context><in-capmkt:ScripCode contextRef="OneI">000000</in-capmkt:ScripCode><in-capmkt:NameOfTheCompany contextRef="OneI">CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="OneI">CDSL</in-capmkt:NSESymbol><in-capmkt:MSEISymbol contextRef="OneI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="OneI">INE736A01011</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Update</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="OneD">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfOccurrenceOfEvent contextRef="OneI">2026-07-31</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="OneD">13:27:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:DateOfInitialAnnouncement contextRef="OneI">2026-07-09</in-capmkt:DateOfInitialAnnouncement><in-capmkt:DateOfLatestAnnouncement contextRef="OneI">2026-07-09</in-capmkt:DateOfLatestAnnouncement><in-capmkt:DateOfReport contextRef="OneI">2026-08-01</in-capmkt:DateOfReport><in-capmkt:UpdateForTheEvent contextRef="OneD">Acquisition (including agreement to acquire)</in-capmkt:UpdateForTheEvent><in-capmkt:BriefDetailsOfInitialAnnouncement contextRef="OneI">In terms of Regulation 30 of SEBI LODR Regulations 2015, CDSL vide its letter no. CDSL/CS/NSE/AJ/2026/100 dated July 09, 2026, had intimated that SEBI accorded its approval for additional investment of Rs 20 crores in India International Bullion Holding IFSC Limited (IIBHL) in one or more tranches.</in-capmkt:BriefDetailsOfInitialAnnouncement><in-capmkt:ReasonForUpdate contextRef="OneD">Others</in-capmkt:ReasonForUpdate><in-capmkt:OtherUpdates contextRef="OneI">Pursuant to SEBI approval received on July 09, 2026, the first tranche of investment through right issue of IIBHL, of 10,00,00,000 (Ten Crores) equity shares of ₹1 (Rupee One Only) each, has been allotted to CDSL on July 31, 2026, amounting to ₹ 10,00,00,000 (Rupees Ten Crores Only), representing a 20% equity stake in IIBHL.

Further update will be provided upon allotment under second tranche of investment.</in-capmkt:OtherUpdates></xbrli:xbrl>