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The depository system in India plays a crucial role in the management of financial services by providing a secure, paperless, and efficient mechanism for holding and transferring securities. This system was introduced in India to eliminate the risks and inefficiencies associated with physical securities, such as forgery, loss, and delayed transfers. The framework of the depository system is regulated by the Securities and Exchange Board of India (SEBI) and governed under the Depositories Act, 1996. The two main depositories operating in India are the National Securities Depository Limited (NSDL) and the Central Depository Services (India) Limited (CDSL). These institutions work in coordination with Depository Participants (DPs), who act as intermediaries between the investors and the depository. In the Indian depository system, securities such as shares, debentures, bonds, and government securities are held in an electronic form. An investor opens a dematerialized (Demat) account with a DP to avail the benefits of holding and transacting in electronic securities. This system simplifies the process of buying, selling, and transferring securities, as all transactions are conducted electronically and reflected in ________ __________ ____ _______ ________ _________ ______ ______ _________ _________ _______.
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