IGNOU MS 46 2017 - Explain the existing Depository System in India? Point out the short c

Question

Explain the existing Depository System in India? Point out the short comings of this system and also give your suggestions, if any, to improve it.

06 Feb 2018

Answer :

Word Count : 717

After the 1990s, the various reforms undertaken by the Indian government, has influenced the capital market also. The Stock exchanges in India, have introduced online trading. For this purpose, dematerialization of securities has been undertaken. The Depository system in India has removed all the evils which were in the previous system that consisted of bad deliveries, loss of securities in transit, forgery and mutilation of share certificates.

With the modernization of Indian capital market, the transactions have increased in number. In order to introduce the Depository system in India, the Indian government passed the Depository Act 1996 and that has enabled the Bombay Stock Exchange (BSE.) and National Stock Exchange (NSE) to set up their Depositories. The NSE has set up NSDL known as National Securities Depository Ltd in 1996. The NSE was helped by IDBI and UTI in the promotion of NSDL.

How depository system in India Improved:

All the functions of depositories are undertaken by NSDL with the help of electronic network. The magnitude of transactions of NSDL could be judged by the volume of

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