n NISM Certifications
VII NISM Series VII
Medium

Depository Participants are appointed by the ______ with the approval of ______.

Practice question from NISM Series VII Mock Test 4 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    SEBI, Depository

  2. Depository, SEBI

    Correct answer

  3. C

    Stock Exchanges, SEBI

  4. D

    Depository, Finance Ministry

Why this is the answer

Depository Participants (DPs) act as agents of depositories. They are appointed by the Depository with prior SEBI approval to offer demat and related services to investors.

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