Sponsor eligibility for depository registration requires specified institutional sponsorship and a fit and proper status for applicants.

Regulation 6 requires that the Board consider applications for registration only where the sponsor belongs to specified categories-public financial institutions, scheduled banks, RBI approved foreign banks, recognised stock exchanges, bodies with at least seventy five percent equity held by those institutions, foreign corporates for custodial/clearing services approved by the Central Government, or institutions established abroad approved by the Central Government-and that the applicant/sponsor meets the fit and proper requirement.

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