Which organization in India acts as the central depository and operates the settlement system for corporate bonds, commercial paper, and debentures?

💡 Solution & Explanation

National Securities Depository Limited and Central Depository Services Limited act as the primary central depositories holding electronic securities and operating settlement systems for corporate bonds, commercial papers, and debentures. The Clearing Corporation of India Limited handles clearing and settlement for wholesale government securities, foreign exchange, and money markets rather than corporate debt instruments. Depositories play a vital role in India's capital market infrastructure by facilitating dematerialized trading and transfer of securities.