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Depository Participants of Nsdl & Cdsl

Autor:   •  July 8, 2018  •  Course Note  •  781 Words (4 Pages)  •  64 Views

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DEPOSITORY PARTICIPANTS

OF NSDL & CDSL

9/7/2016

MFS

Vishal Kumar

                     [pic 5]


  • 5 depository participant of CDSL : central depository securities limited
  1. DBS Bank
  1. Deutsche Bank A.G
  2. J M Financial Services
  3. HDFC Bank
  4. Globe Capital Market
  • How to become Depository Participants in CDSL

In terms of the Depositories Act, 1996 and SEBI (Depositories & Participants) Regulations, 1996, only the following entities are eligible to become a Depository Participant:

  • Public Financial Institution
  • Banks including Foreign Banks
  • State Financial Corporation
  • An Institution engaged in providing financial services promoted by above mentioned jointly and severally.
  • Custodian of Securities
  • Clearing Corporation or Clearing House of a Stock Exchange
  • Stock Broker
  • Non Banking Financial Company
  • Registrar & Transfer Agents

a) The minimum net worth requirement for a stock broker to become CDSL DP is 2 crores (INR).
b) A stock broker having net worth of not less than 1 crore (INR) may be admitted as CDSL DP under category 'Limited Depository Participant' subject to condition that they will increase the net worth to at least 2 crores (INR) so as to be at par with existing stock broker DPs in terms of net worth requirement. Till such time the DP increases the net worth to at least 2 crores (INR) the DP under 'Limited DP' category will be permitted to open only up to 5000 accounts. Such net worth is computed in the manner specified in the operating instructions issued by CDSL from time to time.

The application which is complete in all respects and satisfying the abovementioned threshold criteria shall be considered by the Membership Committee of CDSL on its merits.

  • 5 depository  participant for NSDL : nationals depository security limited
  1. Axis bank
  1. Kotak Mahindra Bank
  2. Kotak Securities
  3. ICICI Bank
  4. IL&FS Securities Services
  • How to become Depository Participant in NSDL

In terms of the Depositories Act, 1996 and SEBI (Depositories & Participants) Regulations, 1996, only the following entities are eligible to become a Depository Participant:

  • Public Financial Institution
  • Banks including Foreign Banks
  • State Financial Corporation
  • An Institution engaged in providing financial services promoted by above mentioned jointly and severally.
  • Custodian of Securities
  • Clearing Corporation or Clearing House of a Stock Exchange
  • Stock Broker
  • Non Banking Financial Company
  • Registrar & Transfer Agents

Fulfilment of eligibility criteria laid down under Regulation 19, sub regulation (a) to (d) of the SEBI (Depositories and Participants) Regulations, 1996 and the admission criteria as enumerated in CDSL Bye-Law 5.2.

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