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Facing challenges while managing regulatory requirements for depository participant registration with SEBI? Let the experts at Enterslice help financial institutions, intermediaries, and market participants meet SEBI and NDSL/CDSL compliance requirements to become registered DPs.
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If you are a financial institution, brokerage firm, NBFC, or fintech platform looking to offer demat and securities-related services, you must obtain depository participant registration. The depository participant registration with SEBI is a process through which a financial intermediary, such as a bank, NBFC, or other fintech platform, obtains authorisation to become a member of NSDL or CDSL.
A SEBI-registered depository participant acts as a link between investors and the central depositories, thereby enabling them to hold and manage securities in electronic (demat) form. Securing depository participant registration further enhances compliance, operational transparency, and investor trust. Consult our experts at Enterslice for depository participant registration with SEBI.
Over 585 Registered Depository Participants
CDSL- 581 Registered DPs
NSDL- 296 Registered DPs
165.17 million Active Demat Accounts of Investors
Enable Demat Account Services for Clients
Ensures Compliance with SEBI, NDSL & CDSL Guidelines
Facilitates Secure & Paperless Securities Settlement
Dedicated DP Registration Compliance Check
Offers Corporate Action Processing Services
Let our experts handle your depository participant registration, documentation, and SEBI-CDSL/ NDSL compliance with complete accuracy and efficiency.
The two significant types of depositories in India are-
The National Securities Depository Limited (NSDL) is promoted by the National Stock Exchange, a Unit Trust of India and the Industrial Development Bank of India. It provides services accessible to the investors through a DP registered with them.
Central Depository Services Limited (CDSL), which is promoted by the Bombay Stock Exchange of India and the State Bank of India, helps investors to avail the services provided by them.
The benefits of securing a depository participant SEBI registration are as discussed below:
Securing a depository participant SEBI registration provides official approval to operate as a DP, thereby ensuring your services are legally recognized and protected under the securities market regulations.
Being SEBI-registered and affiliated with NSDL/CDSL enhances investor trust, as clients are assured of the secure, transparent, and compliant handling of their securities.
Digital demat services, automated reconciliations, and seamless connectivity with depositories help streamline operations and reduce paperwork and other manual errors.
Strict adherence to SEBI and depository guidelines helps minimise risks related to fraud, data breaches, improper settlements, and operational lapses.
SEBI depository participant registration enables quick settlement cycles, real-time updates, faster transfers, and improved turnaround time for client transactions.
The registered depository participants offer a wide range of capital market services, account opening, pledging, dematerialisation, rematerialisation, and corporate action handling.
The process to apply for NSDL depository participant registration with SEBI requires compliance with the following steps, as discussed below:
We submit the application for DP registration on your behalf along with the required documents (e.g., financial statement, infrastructure details) to NSDL.
NSDL reviews the application, documents, and infrastructure to ensure they meet the regulatory and compliance standards.
You should make sure that the depository participant has the appropriate software, hardware, and connectivity to facilitate securities trading and settlements.
NSDL conducts background checks on the depository participant to verify eligibility, including the financial standing and regulatory compliance.
Once the compliance checks are completed successfully, NSDL issues the registration certificate to the DP, allowing them to offer depository services.
Given below is the stepwise guide to apply for CDSL depository participant registration with SEBI-
At Enterslice, we will help you submit an application to CDSL, along with supporting documents, including financial reports and infrastructure details.
The application DP pays the essential registration fees to initiate the process of depository participant registration with CDSL.
CDSL reviews all submitted documents for authenticity, ensuring the DP complies with regulatory requirements.
CDSL assesses the technological and physical infrastructure of the DP to make sure that it meets the necessary standards for handling securities.
CDSL may carry out an inspection of the DP’s premises to verify operational readiness and compliance with depository services standards.
Upon successful verification and inspection, CDSL grants the depository participant registration certificate to you. Start offering depository services without any worry.
End-to-End assistance for SEBI depository participant registration.
The following is the list of documents required for SEBI depository participant registration:
Copy of company registration certificate
Details of promoters related to the company
Net worth certificate from a chartered accountant
Registration with other financial regulatory agencies (if any)
Latest audited financial statements
Income tax returns of the last 3 years
Office space ownership or lease agreement
IT infrastructure declaration for handling electronic securities
Memorandum and Articles of Association (M&AOA)
Copy of board resolution for DP application
SEBI registration certificate (if applicable)
PAN and Aadhar card of directors, partners, and authorized signatories
Address proof of the directors, partners, and authorized signatories
Copy of DP agreement with NDSL/ CDS
SEB prescribed undertakings and declarations
Any other relevant documents (if required)
As India’s capital market continues to expand, the role of depositary participants has become essential for ensuring secure and efficient handling of securities. Depository participants act as the link between investors and central depositories, enabling individuals and institutions to hold, transfer, and manage securities in electronic form.
The presence of a registered depository participant is crucial for promoting transparency, reducing risk, and enabling faster settlement within India’s securities market. By offering demat account services, safeguarding investor holdings, and ensuring compliance with SEBI regulations, the depository participants play a vital role in strengthening the digital securities market and India’s financial ecosystem.
Safe and Paperless Securities Transactions
100% Remote Registration Process
Support Faster Settlement Cycles
Access to Market Infrastructure
The common challenges faced during depository participant registration are as discussed below:
Talk to Enterslice consultants, and let us help you overcome the challenges with minimum effort.
The eligibility criteria for securing depository participant registration under SEBI (Depositories and Participants) Regulations, 1996 are as discussed below:
Checklist of NSDL and CDSL Eligibility Criteria for Depository Participant Registration
Entities Qualifying to Become a Depository Participant
The key functions of depository participants in India after depository participant registration are as discussed below:
The depository participant facilitates the opening of demat accounts for investors, thereby enabling them to hold securities in electronic form and participate in capital market transactions.
Dematerialisation of securities, also known as demat, is the process of converting physical certificates held by investors into equivalent securities in electronic form.
Rematerialisation of securities, commonly known as remat, is the process of converting securities held in electronic form in a demat account into a physical certificate.
The depository participants ensure smooth electronic transfer of securities during buying, selling, gifting, or inheritance. They also handle transmission when securities need to be transferred to legal heirs.
The depository participants play a significant role in trade settlement by updating the investor’s demat account based on buying or selling orders executed on the stock exchange and by timely debiting and crediting securities.
The investors can use their securities as collateral to obtain loans. It further ensures the processing of pledging and unpledging requests and, accordingly, updates the status of securities in coordination with lenders and depositories.
The depository participants offer portfolio management services, including tracking investments, providing regular statements, and managing investors' portfolios.
The depository participants act as an intermediary in Initial Public Offerings (IPOs) by accepting applications from investors and submitting them to the register of the Issue.
The key difference between a depository participant and stock broker is as discussed below:
Registering as a depository participant requires strict adherence to SEBI regulations, NSDL/ CDSL eligibility norms, infrastructure requirements, and ongoing compliance standards. From helping secure a stock broker license to SEBI research analyst registration to DP registration with SEBI, we’ve got you covered. Connect Enterslice to simplify the entire process of depository participant registration with SEBI, ensuring accurate documentation, faster processing, and seamless coordination with regulatory authorities:
Depository participant registration is the process by which a financial intermediary, such as a bank, NBFC, or other fintech platform, obtains authorisation to become a member of NSDL or CDSL.
Depository participants are intermediaries, such as banks and stockbrokers, that act as links between investors and the central depositories. They also help investors open and manage demat accounts, facilitate electronic holdings, and trade securities.
The process to become a depository participant in India requires compliance with the following steps, as provided below:
The applicants eligible to apply and become a depository participant in India are:
Yes, a stockbroker is eligible to become and act as a depository participant in India. In fact, when you open a demat account with a broker, they act as your depository participant, serving as an intermediary between you and the depository, such as NSDL or CDSL.
No, you cannot directly open a demat account with a depository like NSDL or CDSL. However, you must open an account through a depository participant, which can be a stockbroker, bank, or other financial institution registered with the depository.
No, it is not necessary to have a demat account with the same depository participant as your broker has. However, you can choose any depository participant, as per your preference and link it to your trading account with a different broker.
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