About
DPAI (Depository Participants Association of India) is the only association of Depository Participants of NSDL (National Security Depository Limited) and CDSL (Central Depository Services Ltd), Custodian of Securities as registered under SEBI Regulations and Insurance Repository under Insurance Regulatory and Development Authority (IRDA), providing an efficient paperless, electronic holding, settlement and transfer of securities. Presently there is 796 Depository Participants/Custodian of Securities providing services from Over 44,386 locations across the country serving over 26.74 million investors with custodial Value of Rs. 2,85,27,908 Crores.
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Membership
Criteria for admission of members:
Every person who is a Depository Participant of any Depository or Repository or Custodian of Securities, in pursuance of Securities and Exchange Board of India Regulations or Insurance Regulatory and Development Authority (IRDA) Regulations or any other financial sector Regulator/s, shall be eligible to apply for membership of the Association.
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SEBI
DPAI has mandated by SEBI that the Depositories shall jointly meet with the DPAI, at least once every quarter, for discussions and feedback regarding the DP’s operations, issues affecting the market and the investors.
KRA
SEBI has mandated that KRA’s shall jointly meet periodically (at least once a month for next three months starting from January 2015 and than once a quarter from April 2015 onwards) with the broker forums, DPAI and AMFI for discussions and feedback regarding the issues faced by the brokers, DPs and mutual fund investors with respect to KRA.