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13020048 Depository System

13020048 Depository System

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Published by: Jigar_Dedhia_8946 on Sep 16, 2011
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10/30/2012

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Visit us at : www.nsdl.co.in
1
DEPOSITORY SYSTEM
 
Visit us at : www.nsdl.co.in
2
MEANING
The term depository is defined as
“a
central locationfor keeping securities on
deposit”
. It is also defined as
“a
facility for holding securities, either in certificatedor uncertificated form to enable book entry transfer of 
securities”
.
It is understood from the above two definitions thatthe depository is a place where securities are stored,recorded in the books on behalf of the investors.
Therefore, a depository can be defined as,
“an
 institution which transfers the ownership of securitiesin electronic mode on behalf of its
members”
.
 
Visit us at : www.nsdl.co.in
3
NSDL - Bank -- An Analogy
 
BANK
 
Holds funds inaccounts
 
Holds securities inaccounts
 
Transfers fundsbetween accounts
 
Transfers securitiesbetween accounts
 
Transfers withouthandling cash
 
Transfers withouthandling physicalsecurities
 
Safekeeping of money
 
Safekeeping of securities
 
NSDL

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