NSDL and CDSL to create database for debentures

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NATIONAL depositories — National Securities Depository (NSDL) and Central Depository Services (CDSL) will jointly create and cohost centralised database for corporate bonds and debentures by January 2014.

Sebi in circular said issued on Tuesday said, "It has been decided to create a centralised database regarding corporate bonds which are available in demat form for public dissemination.

Both the depositories — NSDL and CDSL, jointly, will be the repository of information pertaining to the corporate bonds/debentures." Depositories will provide the requisite infrastructure and host the database.

"Depositories will have adequate systems and safeguards to maintain the integrity of the data and to prevent manipulation of

the data. Depository will synchronise the database in consultation and sharing with other depository," Sebi said.

At present, the information in respect of various bonds/debentures issued by issuers is available in a fragmented manner and available at multiple sources such as websites of credit rating agencies, depositories, stock exchanges, etc. It is felt that there is a need for having a comprehensive database on corporate bonds at a single place, Sebi said.

"High level expert committee on corporate bonds and securitisation" also known as "RH Patil Committee" had recommended creation of "centralised database of information regarding Bonds," Sebi circular said. In the first phase, the bonds/debentures available in the demat form will be considered.

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