Eligibility criteria for depository participants require categorical, infrastructure, and fit-and-proper compliance for registration.

Grant of a certificate of registration requires the Board to consider matters relevant to the efficient and orderly functioning of a participant and whether the applicant meets specified requirements: belonging to prescribed institutional categories (with attendant networth and activity provisos), eligibility for admission by the chosen depository, possession of adequate infrastructure, systems, safeguards and trained staff, status as a fit and proper person under the intermediaries regulations, and that registration is in the interests of investors.

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