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A Depository is like a bank where securities are held in electronic (dematerialised) form. In India, currently there are two Depositories -National Securities Depositories Limited (NSDL) and Central Depository Services Limited (CDSL). Under the Depositories Act, investors can avail of the services of the Depositories through Depository Participants (DP). DP's are like bank branches wherein legible securities in physical form need to be deposited for converting the same to electronic (demat) form. |
DEPOSITORY
