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Account Opening Who is a DP?

account DP opening

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• A Depository like NSDL (National Securities Depository Limited) or CDSL (Central Depository Services Limited) provides its services to investors through its agents called depository participants (DPs). These agents are appointed by NSDL & CDSL with the approval of SEBI. According to SEBI regulations, amongst others, three categories of entities i.e. Banks, Financial Institutions and Members of Stock Exchanges registered with SEBI [brokers] can become DPs. An investor can get a list of DPs from NSDL’s or CDSL’s office. • Our Bank has now centralized DP operations (both for CDSL as well as NSDL) besides existing DPs which are being planned to be migrated to central set up in a phased manner.

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