State whether the following statements are true or false.

1. Physical mode of holding securities is risky.
Ans:- True

2. Allotment of securities take longer time when in physical mode.
Ans:- True

3. Transfer of securities is easier in electronic mode.
Ans:- True

4. Bad delivery is likely in Depository System.
Ans:- False

5. Depository system began in the USA for the first time in the world.
Ans:- False

6. India has a multi Depository System. 
Ans:- True

7. Depository system is very similar to banking system. 
Ans:- True

8. DP is a constituent of Depository System. 
Ans:- True

9. DP is an agent of Depository. 
Ans:- True

10. A Bank can work as a DP. 
Ans:- True

11. DRF is required for conversion from physical to electronic.
 Ans:– True

12. ISIN is a unique code given to the specific securities. 
Ans:- True