What is a Depository?
A depository is an organisation which holds securities
(like shares, debentures, bonds, government securities,
mutual fund units etc.) of investors in electronic
form at the request of the investors through a registered
Depository Participant. It also provides services
related to transactions in securities.
At present two Depositories viz. National Securities
Depository Limited (NSDL) and Central Depository
Services (India) Limited (CDSL) are registered with
Who is a Depository Participant?
A Depository Participant (DP) is an agent
of the depository through which it interfaces with
the investor and provides depository services. Public
financial institutions, scheduled commercial banks,
foreign banks operating in India with the approval
of the Reserve Bank of India, state financial corporations,
custodians, stock-brokers, clearing corporations
/clearing houses, NBFCs and Registrar to an Issue
or Share Transfer Agent complying with the requirements
prescribed by SEBI can be registered as DP. Banking
services can be availed through a branch whereas
depository services can be availed through a DP.
SCML has started its Depository
Participant division under National Securities Depository
Ltd. A team of qualified and dedicated professionals
ensure timely and efficient service to investors
comprising of High Net worth Individuals, Corporates
and Clearing Members. The commencement of Depository
Participant operations is an endeavor to establish
ourselves as a one-stop financial organization.
The depository participant division would benefit
investors, as it forms an integral part of the attractive
package of capital market related services provided