Which institutions promoted National Securities Depository Limited, India’s first depository?
Question and options
Which institutions promoted National Securities Depository Limited, India’s first depository?
IDBI, UTI and NSE
IDBI, BSE and HDFC Bank
NSE, LIC and SBI
BSE, Bank of India and SBI
Answer and explanation
Correct answer: A - IDBI, UTI and NSE
NSDL, set up in 1996 as India’s first depository under the Depositories Act, 1996, was promoted by the Industrial Development Bank of India, the Unit Trust of India and the National Stock Exchange. BSE was instead the principal promoter of the second depository, Central Depository Services (India) Limited, together with banks including Bank of India.
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