India has a ______ depository system. - Secretarial Practice

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MCQ
Fill in the Blanks

India has a ______ depository system.

Options

  • sole

  • multi

  • single

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Solution

India has a multi depository system.

Explanation:

The Depository System was introduced in India by passing the Depository Act in 1996. Under this Act, a competitive multi-depository system consists of two depositories. NSDL and CDSL were set up. It is interesting to note that the world’s first depository was set up in 1947 in Germany.

Concept: Depository System
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2021-2022 (March) Set 1

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