Which of the following pairs is correctly matched?

The correct answer is Option (3) → Badla – a carry forward system of settlement

Option (1) Rematerialisation – converting physical shares into electronic form — Incorrect. Converting physical shares into electronic form is dematerialisation. Rematerialisation turns electronic holdings back into certificates.

Option (2) Depository participant – keeping securities in electronic form, just as a bank keeps money — Incorrect. Keeping securities in electronic form, as a bank keeps money, is the work of a depository. The DP is the intermediary between the investor and the depository.

Option (3) Badla – a carry forward system of settlement — Correct. Badla is a carry forward system of settlement. It lets delivery or payment move from one settlement period to the next.

Option (4) Bourses – a period of pessimism on the stock market — Incorrect. Bourses is another word for the stock market. A period of pessimism on the bourses is a bearish phase.