What precautions have been taken to ensure safety in depository system?
Ans. Safeguards have been built into the regulations to prevent manipulation of records and transactions in the depository system. The safeguards include:
– protection against unauthorized access to systems,
– standard transmission and prescribed formats for electronic communication,
– controlled access mechanisms to data storage procedure,
– facilities for ensuring protection of records against loss or destruction, and
– Arrangements for back-up of records and data .
The provision is also to be made for insurance and other arrangements for indemnifying the beneficial owners.
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