(D) Custodian — A Custodian keeps the client informed of corporate actions taken or to be taken by the issuer of securities, which have a bearing on the benefits or rights accruing to the client.
A Custodian is responsible for safekeeping client assets and notifying clients about corporate actions (dividends, bonus issues, rights issues, etc.) that affect their holdings. Do not confuse with a Depository Participant, who only facilitates holding of securities in dematerialised form. In MCQs, focus on the phrase "informs client of corporate actions bearing on benefits/rights."