Procedure for Registration of Vault Manager With SEBI

Priya Gandhi

Priya Gandhi

Published on: Mar 25, 2026

Aakanksha Singhal

Updated on: Mar 25, 2026

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The procedure for registration of a Vault Manager (VM) with the Securities and Exchange Board of India (SEBI) is primarily governed by the The procedure for registration of a Vault Manager (VM) with the Securities and Exchange Board of India (SEBI) is primarily governed by the Securities and Exchange Board of India (Vault Managers) Regulations, 2021..

Applicable Provisions

Regulation 3, 4, 5, 6, 7, 8, 9, 10 of SEBI (Vault Managers) Regulations, 2021

Mandatory Requirements

Applicant shall:

• Maintain a minimum NW of Rs. 50 Crore
• Be a body corporate*
• Furnish Refundable Financial Security Deposit as may be specified by the Board
• Must have the infrastructure for safe deposit, storage and withdrawal of gold
• Have adequate insurance to cover losses as may be specified by the Board
• Have Comprehensive Standard Operating Procedure (SOP) covering gold handling, security, electronic receipt creation, record-keeping, and administrative protocols to ensure the safe and transparent management of recognized vaults
• Abide by Code of Conduct as specified in Third Schedule.

Note: An individual, HUF, or AOP cannot be a SEBI-registered VM.

Procedure

1. Ensure Meeting Capital Adequacy and Net Worth Requirements:

   Applicant seeking registration as Vault Manager, must ensure a minimum NW of Rs. 50 Crore, which must be maintained on an ongoing basis throughout the period of registration.

2. Filing of Application:

   Applicant must make an online application, to SEBI, in Form A (Application for Grant of Certificate of Registration), through SEBI Intermediary Portal, along with:

   • Supporting documents mentioned in the First Schedule, and
   • Prescribed non-refundable fee, as specified in Part A (Amount to be Paid as Fees) of the Second Schedule, which must be paid using the method specified in Part B of the same Schedule.

   Note:

   • Weblink for making application: (https://siportal.sebi.gov.in)
   • User Manual for Registration is available at (https://siportal.sebi.gov.in/intermediary/index.html)
   • Applicants must pay the required fees via direct bank credit through the online SEBI Payment Gateway.
3. Regulatory Authority to Seek Clarifications:
   • Board (SEBI) has the right to ask the applicant to provide extra information or clarification about anything related to the Vault Manager’s activities while reviewing the application.
   • The applicant or their representative must attend a meeting with SEBI (if requested) for a personal discussion about the certificate.
4. Grant of Registration Certificate:
   • After reviewing the application and finding the applicant eligible (based on regulations), SEBI will send an official notice (intimation) of its satisfaction.
   • Upon receiving SEBI’s notice, the applicant must pay the prescribed registration fee.
   • Once the fee is paid, SEBI will issue the final Certificate of Registration in Form B.

Abbreviations Used:

• SEBI: Securities and Exchange Board of India
• NW: Net Worth
• HUF: Hindu Undivided Families
• AOP: Association of Persons
• VM: Vault Manager

Important Links:

• https://www.sebi.gov.in/index.html
• https://siportal.sebi.gov.in/intermediary/index.html