Which specific institutions in India does not qualify

Solution

• According to a panel set up (in 2010) under the chairmanship of former Reserve Bank of India Governor Bimal Jalan, the term ‘market infrastructure’ denotes such fundamental facilities and systems serving this capital market.
• Among stock exchanges, the SEBI lists seven, including the BSE, the NSE, the Multi Commodity Exchange of India and the Metropolitan Stock Exchange of India.
• There are two depositories — charged with the safekeeping of securities and enabling their trading and transfer — that are tagged MIIs: the Central Depository Services Ltd. and