Question: Which of the following is the first and largest depository presently operational in India?
A Central depository services limited (CDSL)
B Bombay stock exchange (BSE)
C National securities depository limited (NSDL)
D Reserve bank of India (RBI)
Answer: National Securities Depository Limited (NSDL)
| NSDL |
Description |
| Full form |
· National Securities Depository Limited |
| Type |
· Central Depository |
| Headquarters |
· Mumbai, Maharashtra, India |
| Role |
· Facilitates the holding and transferring of securities in electronic form. |
| Year of establishment |
· 1996 |
| Regulatory Authority |
· Securities and Exchange Board of India (SEBI) |
| Services Offered |
· Dematerialization of securities
· Central record-keeping for securities
· Facilitating electronic transfer of securities
· Issuance of unique Demat account numbers |
| Demat Accounts |
· NSDL provides Demat (Dematerialized) accounts to investors, enabling them to hold and trade securities electronically. |
| Significance |
· NSDL played a pivotal role in the transition of India’s securities market from paper-based trading to electronic trading, making it more efficient and secure. |
| Ownership |
· ICICI Bank,
· State Bank of India
· HDFC Bank and others |
