Depository System


 
 
Concept Explanation
 

Depository System

A depository is a file or a set of files in which data is stored for the purpose of safe keeping or identity authentication', defined by Germany Depository. In India, the Depositories Act, 1996 defines a depository to mean A company formed and registered under the Companies Act, 1956 and which has been granted a certificate of registration under Sub-Section (1A) of Section 12 of the Securities and Exchanges Board of India Act, 1992.

Depository System in India

  • In order to put a check on seams after the 1992 stock market seam, the depository system was adopted on the recommendation of a technical committee.
  • The main objective of the recommendation of the depository system were.
  • (i) Maintenance of accounts

    (ii) To keep transfer (of funds) in electronic accounts.

    .... (More Text Available, Login?)
     
     


    Students / Parents Reviews [10]