How many Depositories inIndia?
There are two depositories in India
National Securities Depository Ltd. (NSDL)The National Securities Depository Limited(NSDL) is an organisation established toprovide electronic depository facility forsecurities traded in the equity and the debtmarket and is promoted by the IndustrialDevelopment Bank of India (IDBI), Unit Trustof India (UTI) and the National Stock ExchangeLimited (NSE). Subsequently State Bank of India has also acquired a stake in NSDL. NSDLhas been registered by Securities ExchangeBoard of India (SEBI) on June 7, 1996 asIndia's first Depository to facilitate settlementof securities in dematerialised form. NSDL hadcommenced its operations on November 6,1996.
Central Depositories Services of India Ltd.(CDSL)Central Depositories Services of (India) Ltd.was the second depository to be granted thecommencement certificate by SEBI on 8February1999. Inaugurated on 15 July 1999, itis promoted by the Bombay Stock Exchange, inassociation with Bank of India (BOI), Bank of