Maintenance and Operation of Clearing Bank Account · NCL/CMPT/75211

NSE Clearing Limited

Circular

All Members/Custodians/PCMs,

Sub: Maintenance and Operation of Clearing Bank Account

This is reference to consolidated circular dated April 30, 2026, download reference number NCL/CMPT/73996 PART B Item 5 “Procedure of funds pay-in and pay-out.”

Members are requested to take note of letter format to be submitted by clearing members to/from their respective clearing banks for maintenance and operation of clearing bank account.

Members are required to ensure that the account name is maintained as

For Primary account: - < Member name> NCL Settlement Account".

For Secondary account: -< Member name> NCL Secondary Settlement Account".

For and on behalf of NSE Clearing Limited

Satish Jathan Vice President

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ANNEXURES

1. FORMAT OF AUTHORISATION LETTER TO BE SUBMITTED BY THE CLEARING MEMBER TO THE CLEARING BANK FOR OPERATION OF CLEARING BANK ACCOUNT

On Letter Head of Clearing Member

Date: From: [Clearing Member name and address] To: [Clearing bank name and address] Dear Madam/Sir,

Sub: Operation of Clearing Bank for NSE Clearing Limited [Segment Name: ……..]

Ref: Our Primary / Secondary* Clearing Bank Account No: ________ with [Clearing Bank name & address]

With reference to the above, we note that:

1. NSE Clearing Ltd (NCL). has established a clearing and settlement system, whereby its members will be able to undertake the clearing and settlement of deals admitted.
2. The bank has been nominated / appointed as a Clearing Bank for the purpose of Clearing and Settlement by NSE Clearing Ltd.
3. As per the Byelaws, Rules and Regulations of NSE Clearing Ltd., the member shall authorize the Clearing Bank to access their clearing account for debiting & crediting their accounts as per the instructions received from NSE Clearing Ltd. from time to time. The member further shall authorize NSE Clearing Ltd. to debit the Clearing Bank Account for the purpose of appropriating the dues payable to Exchange, SEBI or such other regulatory authority as maybe specified from time to time.
4. Having due regard to the above, we hereby irrevocably authorize the Clearing bank to debit and credit our above referred clearing bank account from time to time as per the instructions received from NCL. Further, we authorize the Clearing Bank to report balances and other information relating to this account to NCL as may be required by NCL from time to time.

This irrevocable undertaking will be with immediate effect.

5. We further hereby undertake to abide by such other or further guidelines / instructions as may be communicated / decided by NCL.

Yours faithfully,

Authorized Signatory and Stamp Name: Designation:

• Strike out whichever is not applicable

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Acknowledgement from Bank

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2. ACCOUNT CONFIRMATION LETTER FROM CLEARING BANK TO CLEARING CORPORATION

On Letter Head of Clearing Bank

Date: To, Manager NSE Clearing Limited 9th floor, Inspire BKC, G Block, Bandra Kurla Complex, Bandra (E) Mumbai – 400051

Sub: - Confirmation of Account with our Bank

Dear Madam/Sir,

This is to certify that …………….. member holds the below mentioned bank accounts at …………………. Bank.

Yours faithfully,

Authorized Signatory and Stamp Name: Designation:

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3. FORMAT FOR NOC FROM CLEARING BANK TO CLEARING CORPORATION FOR SHIFTING OF BANK ACCOUNT

On Letter Head of Clearing Bank

Date: To, Manager NSE Clearing Limited 9th floor, Inspire BKC, G Block, Bandra Kurla Complex, Bandra (E) Mumbai – 400051

Subject: NOC for Account Shifting

Dear Sir,

We hereby confirm that we have no objection whatsoever in shifting of below mentioned account of ………………… from our bank to any another bank.

Thanking you. Yours faithfully,

Authorized Signatory and Stamp Name: Designation:

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4. FORMAT OF REQUEST LETTER FROM CLEARING MEMBER TO CLEARING CORPORATION FOR CHANGE OF SETTLEMENT ACCOUNT

On Letter Head of Clearing Member

Date: To, Manager NSE Clearing Limited 9th floor, Inspire BKC, G Block, Bandra Kurla Complex, Bandra (E) Mumbai – 400051

Subject: Request for change in bank account ….. (Member Code) ………. (Member Name)

Dear Sir/Madam,

We, request you to change our settlement A/c as per details given below with effect from……………….

Enclosed:

1. Authorization letter as per Annexure 1
2. Confirmation of Account Letter from Bank as per Annexure 2
3. NOC for existing bank for account shifting as per Annexure 3

Yours faithfully,

Authorized Signatory and Stamp Name: Designation:

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5. FORMAT FOR NOC FOR CLOSURE OF EXISTING SETTLEMENT ACCOUNT FROM CLEARING MEMBER TO CLEARING CORPORATION

On Letter Head of Clearing Member

Date: To, Manager NSE Clearing Limited 9th floor, Inspire BKC, G Block, Bandra Kurla Complex, Bandra (E) Mumbai – 400051

Dear Sir/Madam,

Sub: - Request for NOC for Closure of Settlement Account ………. (Member Code) …………(Member Name)

We wish to close our account with ………….. bank having account number ……………

As the account is mapped with NSE Clearing Ltd as settlement account we request for NOC. The details of account are as under:

Yours faithfully,

Authorized Signatory and Stamp Name: Designation:

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6. FORMAT FOR CHANGE OF NAME FROM CLEARING BANK TO CLEARING CORPORATION

On Letter Head of Clearing Bank

Date: To, Manager NSE Clearing Limited 9th floor, Inspire BKC, G Block, Bandra Kurla Complex, Bandra (E) Mumbai – 400051

Subject: Name Change in Settlement Account

We wish to inform you that the ……………. has intimated us their change in name from M/s. (Old Member Name) to (New Member Name) and have requested us to confirm to you the continuation of the below stated accounts in their new name.

We therefore, hereby confirm that the accounts referred above on behalf of M/s.(Old Member Name) shall be deemed to have been in the new name (New Member Name) and shall continue to be valid and enforceable in spite of the change in name as above and we undertake to honour any claim or demand from you on account (New Member Name) either in the name of (Old Member Name) or (New Member Name).

Yours faithfully,

Authorized Signatory and Stamp Name: Designation: