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India’s capital markets regulator, Securities and Exchange Board of India, SEBI,
has made dematerialized settlement mandatory for all transactions in securities.
This was done in a phased manner, thus bringing most of the securities in India
into dematerialized form. Now, the settlement of trades on stock exchanges is
almost 100 per cent in demat form.
CODE
ISSUER TYPE
ALLOTTED
Central Government A
State Government B
Municipal Corporation C
Union Territories D
NB: ISINs for Government Securities (G-Secs) are allotted by Reserve Bank of India
The stamp duty on transfer of demat securities has been waived. There are two
depositories in India, namely, NSDL and CDSL. They have been set up to
provide instantaneous electronic transfer of securities.
CDSL was set up in February, 1999 to provide depository services. All leading
stock exchanges like the National Stock Exchange, Calcutta Stock Exchange,
Delhi Stock Exchange, The Stock Exchange, Ahmedabad, etc have established
connectivity with CDSL
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