The Hindu Business Line : SEBI clears NSDL application

Mumbai, Aug. 22 The SEBI board has decided to clear the application of National Securities Depository Ltd, (NSDL) to act as a central record-keeping agency (CRA) under the new pension scheme of PFRDA. Earlier, SEBI had rejected NSDL’s application on the ground that it was not part of the core activities of the depository. SEBI board, at its meeting on Wednesday, has cleared the proposal subject to certain conditions, an official said.

NSDL would undertake the CRA activities as a strategic business unit and it would be hived off as a separate entity within three years. The CRA activities would not erode NSDL’s net worth required for carrying out its main activity as a depository.

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