Depository

Q  What is a Depository?
A depository is an organization where the securities of an investor are held in electronic form. A depository can be compared to a bank. Besides holding securities, a depository also provides services related to transactions in securities.
Q  Who is a Depository Participant (DP)?
As an investor, you open a securities account with a DP. DPs are attached to the depositories very much the same way as commercial banks are attached to RBI. All interactions including account opening, dematerialization, transactions, pledge etc. are done through the DP.
Q  Who is a Beneficiary Owner?
The person who holds a demat account is a beneficiary owner. In case of a joint account, the account holders will be beneficiary holders of that joint account.
Q  What is a DP Id?
A DP Id is the number of the depository participant allotted by the depository.
Q  How do I select a DP?
You can select your DP to open a demat account just like you select a bank for opening a savings account.
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