Depositories are organizations that manage existing Demat accounts. They also provide new investors with Demat accounts. In India, there are 2 Depositories: the National Securities Depositories Limited (NSDL and the Central Depository Service Limited (CDSL). They also act as clearing houses and ensure that all transactions are successfully carried out. They follow regulations set by the Securities and Exchange Board of India (SEBI) according to the Depositories act of 1996.