National Securities Depository Limited (NSDL) is a central securities depository of India with its office in Mumbai. It was established in August 1996 as the first electronic securities. It is the first depository company in the country. It has been promoted by the UTI, NSE, State Bank of India, HDFC Bank and City Bank. a depository in India.
Following functions are performed by NSDL
- Enables the surrender and withdrawal of securities to and from the depository (dematerialization and rematerialisation).
- It maintains investor holdings in the electronic form.
- It facilitates transfer of securities.
- It is engaged in Stock lending and borrowing.
- Performs settlement of securities that have not been done in the stock exchange.
- it facilitates in mortgaging the securities for loan.
- it locks the investors account whenever required.
- it facilitates electronic credit of shares in public offerings.