On receipt of complete set of documents, the application will be placed before the concerned committee of NSDL. Upon its approval, you will be required to procure necessary infrastructure/ hardware as mentioned in System Specifications & Investments.
You will also be required to depute your staff for attending a three days training programme conducted at NSDL, Mumbai office to familiarize them with NSDL system. Also the staff will have to obtain NISM – Series VI - Depository Operations Certificate Examination / CPE qualification (refer circulars provided in the list of documents).
Upon installation of necessary infrastructure/hardware and on completion of necessary network/ system testing, NSDL will conduct a pre-activation inspection at your premise
On completion of the aforesaid, your application will be sent to SEBI*. After acceptance of application by SEBI, your participantship will be activated in pilot environment for testing purpose (which needs to be completed successfully).
You will be required to forward the necessary fees payable to SEBI and NSDL as mentioned at https://nsdl.co.in/about/charges.php
You will be required to enter into an agreement with NSDL as a Participant of NSDL.
After completion of the above requirements, you will be made operational in NSDL system as a Participant.
* If you are an existing CDSL DP, your application will not be sent to SEBI and will be processed internally at NSDL.