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How is a depository similar to a bank?

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A Depository compares to a bank in the following ways;

Bank Vs Depository

Bank

Depository

Holds money in a bank account

Holds financial securities like shares, debentures, mutual funds in a demat account

Enables fund transfers between bank accounts as requested by the account holder

Enables securities transfers between demat accounts as requested by the demat account holders

Eliminates the need to physically handle money

Eliminates the need to physically handle security certificates


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