Applicability and definitions
Identify entity, activity and exclusions.
Master Circular for Depositories (2024-12-03)
Reviewed by Ravi Sisodia · Last reviewed 19 July 2026
Paragraph-wise control map for Depositories/DPs; dated 2024-12-03.
2024-12-03Depositories/DPsCurrent circular inventory
Paragraph map
Registration and continuing conditions
Map eligibility, capital, fit-and-proper and infrastructure.
Governance and compliance officer
Assign Board, trustee, key-person and compliance responsibility.
Client/investor onboarding
Apply KYC, agreements, risk disclosure and suitability where applicable.
Operational conduct
Map permitted processes, segregation, conflicts and prohibited practices.
Disclosure and reporting
Build periodic/event/transaction filing and website controls.
Inspection, audit and records
Preserve books, system logs, certifications and inspection readiness.
Supersession and circular concordance
Identify consolidated circulars, saved actions and later amendments.
Primary sources & verification — Versioned-master-circular control
Reviewed: 22 August 2026.
This URL represents the 3 December 2024 Depositories master circular. Keep it as a versioned historical source and check SEBI’s updated Master Circulars/Circulars list for later amendments or replacement instruments before using a requirement operationally.
Practical verification checklist
- Record the paragraph and circular date.
- Check later depository circulars.
- Do not alter the historical URL/title to chase currentness.
Primary-source checkpoint
Use the controlling statute, notified rule/instrument, official portal and later authoritative treatment for the relevant date. This page remains an educational/professional reference.
Evidence and verification checklist
- Confirm the current, in-force text governing Master Circular for Depositories (2024-12-03) on the official source linked above - the summary on this page is an implementation aid, not a substitute for it.
- Record the exact event/transaction date, since the applicable version of the law, form or threshold can change between the date of the underlying event and today.
- Preserve the primary documents (notices, applications, orders, acknowledgements) that would let a reviewer reconstruct how the facts were classified and what was actually done.
- Check for a State-specific rule, later amendment or binding judicial decision that may modify how this applies on your facts.
Before relying on this page
This page is a structured implementation summary, not the operative legal text. Portal or process acceptance of a filing does not by itself establish legal compliance - the underlying classification, authority, evidence and timeline still have to be independently correct. Where the facts are contested, high-value, or time-barred if delayed, verify the current position with the official source and, where appropriate, a qualified professional before acting.