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Clearing Banks

NSE Clearing has empanelled 13 clearing banks for settlement of funds between clearing member and the Exchange.

Every Clearing member (CM) is required to maintain and operate a clearing account with any one of the empanelled Clearing Banks at the designated clearing branches. The clearing account is to be exclusively for Exchange clearing & settlement operation.

 

click to open accordion Contact Details

Axis Bank Ltd.

Address

Capital Market Division, Jeevan Prakash Building
Sir P.M. Road
Mumbai - 400001

Contact Person & Numbers

Mr. Ketan Dani

Mr. Ketan Dani
Asst. Vice President
Telephone
66107269/70
Mobile
9869574813

Mr. Sunil Sharma

Mr. Sunil Sharma
Vice President
Telephone
66107250/51
Mobile
9869663870
Fax
66107284/85

Mr. Sajjan Goyal

Mr. Sajjan Goyal
Manager
Telephone
66107273/7255
Mobile
09867757077
Fax
66107284/85

Bank of India Ltd.

Address

Stock Exchange Branch, P.J.Towers
Dalal Street, Fort
Mumbai - 400001

Contact Person & Numbers

Mr. R. S. Nair

Mr. R. S. Nair
Dy. General Manager
Telephone
22722400, 22721787
Mobile
9820520744
Fax
22721782

Mr Dhapodkar

Mr Dhapodkar
Senior Manager
Telephone
22722396
Fax
22721784/22721788

Canara Bank Ltd.

Address

NSE Branch, Varma Chambers, 1st Floor
11 Homji Street, Fort
Mumbai - 400001

Contact Person & Numbers

Mr. Partha Sarathy

Mr. Partha Sarathy
Chief Manager
Telephone
22693157, 22675702, 22658291
Fax
22670033

Mr K.Y Mallya

Mr K.Y Mallya
Senior Manager
Telephone
22633006
Fax
22675650

Citibank N.A.

Address

Citigroup Global Services, Infinity Towers, 1st Floor, A Wing
Behind Toyota Showroom, Malad (W)
Mumbai - 400064

Contact Person & Numbers

Mr Ganesh Ramanathan

Mr Ganesh Ramanathan
Vice President
Telephone
40015640

Mr. Rajarshi Chakraborty

Mr. Rajarshi Chakraborty
Asst Vice President
Telephone
40015652
Mobile
9820753469

Mr. KVP Satish Chandra

Mr. KVP Satish Chandra
Asst Vice President
Telephone
40015192
Mobile
9820787010

The Hongkong & Shanghai Banking Corporation Ltd.

Address

52/60, M G Road
Fort
Mumbai - 400001

Contact Person & Numbers

Mr. Ritesh Jain

Mr. Ritesh Jain
Vice President, Head- PCM- Payment Operations
Telephone
67115841
Fax
66536004

Mr. Shaleen Mahar

Mr. Shaleen Mahar
Sr. Relationship Manager Non Bank Financial Institutions
Telephone
22681175, 24980000
Mobile
9820333047
Fax
22734388

ICICI Bank Ltd.

Address

Capital Market Division Raja Bahadur Mansion
30, Mumbai Samachar Marg, Fort
Mumbai - 400001

Contact Person & Numbers

Mr. Naveen Saini

Mr. Naveen Saini
Chief Manager
Telephone
22627717
Mobile
9930064143

Gopal Singh Rawat

Gopal Singh Rawat
Telephone
22627728
Mobile
9930065421

Mr. Harish Kotian

Mr. Harish Kotian
Chief Manager- Operations
Telephone
66672085
Mobile
9930061805
Fax
66672791

HDFC Bank Ltd.

Address

2nd Floor, Trade World "A" Wing
Kamala Mills, Lower Parel (W)
Mumbai - 400013

Contact Person & Numbers

Mr. Ashish Agarwal

Mr. Ashish Agarwal
Dy Vice President-Capital Market Business
Telephone
24988484 Extn 3565
Mobile
9323469162
Fax
022-40804711

Mr. Chetan A. Shah

Mr. Chetan A. Shah
Business Head - Capital Market Business
Telephone
24988484 Extn 3538
Mobile
9322902935

Mr. Shailesh Sukhthankar

Mr. Shailesh Sukhthankar
Head- Capital & Commodity Market Business
Telephone
24988484 Extn 3334
Mobile
9323651640
Fax
022-40804711

IDBI Bank Ltd.

Address

Block no 82/83 Road no 7, Street no 15 MIDC
Andheri East
Mumbai - 400093

Contact Person & Numbers

N.R. Viswanadhan

N.R. Viswanadhan
Product head- Capital Market
Telephone
66552259
Mobile
9833651064

Mr. Ajay Thakur / Sadik Ali

Mr. Ajay Thakur / Sadik Ali
Asst Manager
Telephone
66977910
Mobile
9967222102

IndusInd Bank Ltd.

Address

Sonawalla Building 57
Mumbai Samachar Marg, Fort
Mumbai - 400001

Contact Person & Numbers

Mr. Pradeep Bhave

Mr. Pradeep Bhave
VP & Branch Head
Telephone
66347722

Mr. Yogesh Adke

Mr. Yogesh Adke
Asst. Vice President
Telephone
66366589
Fax
66366590

Kotak Mahindra Bank Ltd.

Address

Kotak Infiniti, 6th Floor, Building No. 21, Infinity Park, Off Western Express Highway
General AK Vaidya Marg, Malad (E)
Mumbai - 400097

Contact Person & Numbers

Mr. Sachin Samant

Mr. Sachin Samant
President
Telephone
61660307
Fax
No

Mr. Vickram Valecha

Mr. Vickram Valecha
Senior Vice President
Telephone
66056027
Fax
No

Standard Chartered Bank

Address

5th floor, Forbes Building
Charanjeet Rai Marg, Fort
Mumbai - 400001

Contact Person & Numbers

Mr. Ashish Kapoor

Mr. Ashish Kapoor
Associate Director-Transaction Banking - Financial Institution
Telephone
2206 2670
Mobile
9870224057

Mr. Bineet Desai

Mr. Bineet Desai
Associate Director-Financial Institution, India
Telephone
66372357/66314166
Mobile
9920554141

Union Bank of India

Address

Capital Market Cell, Mumbai Samachar Marg Branch,
66/80 Mumbai Samachar Marg, Fort
Mumbai - 400023

Contact Person & Numbers

Mr. R.S. Majithia

Mr. R.S. Majithia
Asst. General Manager
Telephone
22629303
Fax
22642742

Mr. Girishchandra Kashyap

Mr. Girishchandra Kashyap
Sr Manager
Telephone
22629335

State Bank Of India

Address

Mumbai Main Branch, 1st floor International Banking Division
Mumbai Samachar Marg
Mumbai - 400023

Contact Person & Numbers

Ms. Vidya Krishnan

Ms. Vidya Krishnan
Asst. General Manager
Mobile
9821078386

Ms. Supriya Kulkarni

Ms. Supriya Kulkarni
Manager
Telephone
22651363

Mr. P.N. Raut

Mr. P.N. Raut
Dy. Manager
Telephone
22644411, 22644972
Mobile
9870498672

Mr. Sathish Babu

Mr. Sathish Babu
Dy Manager
Mobile
9870498671
click to open accordion Clearing Account

Every Clearing Member is required to maintain and operate a primary clearing account with any one of the empanelled clearing banks at the designated clearing bank branches. The primary clearing account is to be used for clearing and settlement operations i.e., for settling funds obligation, payment of margins, release and enhancement of collateral, EPI of funds, penal charges. A Clearing member having funds obligation to pay is required to ensure availability of sufficient clear balance in the clearing accounts on or before the stipulated funds pay-in day and the stipulated time.

Further, every clearing member can maintain and operate additional clearing accounts with the designated clearing banks for the purpose of enhancement of collaterals in the form of cash and for providing EPI of funds. Release of cash collateral, collateral enhancement and EPI of funds, shall be routed through the secondary clearing account of the member if specified by the member.

Maintenance of a primary clearing account and one additional clearing account would not be chargeable. However, starting from second additional clearing account onwards, a charge of Rs.5000 plus service tax would be levied for every additional clearing account activated for the clearing member. Clearing members are required to send a Demand Draft, favoring National Securities Clearing Corporation Ltd for the total amount of applicable charges plus service tax, along with the request for activation of additional clearing account.

Clearing Members are required to authorise the Clearing Bank to access their clearing accounts for debiting and crediting their accounts, reporting of balances and other information as may be required by NSE Clearing from time to time as per the specified format. The Clearing Bank will debit/ credit the clearing account of clearing members as per instructions received from the Clearing Corporation.

A Clearing member can deposit funds into this accounts in any form, but can withdraw funds from these accounts only in self-name.

Clearing members shall not seek to close or de-activate the clearing account without the prior written consent of the Clearing Corporation

click to open accordion Change in Clearing Bank

In case a clearing member wishes to shift the primary clearing account from one designated clearing bank to another designated clearing bank, the following procedure is required to be followed:

  • The clearing member while requesting the Clearing Corporation for a change in the primary clearing bank account would either
    1. Furnish the no objection certificate (NOC) received by the member from the existing primary clearing bank for shifting of account, or
    2. In case no response was received by the clearing member from the existing primary clearing bank in respect of the NOC request even after a minimum waiting period of a fortnight, a declaration to the above effect along with an acknowledged copy of the NOC request made by the member to the existing primary clearing bank.
  • The Clearing Corporation would thereon issue a letter of introduction to the other designated clearing bank
  • On opening the account with the other designated clearing bank, the clearing member shall submit to the Clearing Corporation the account particulars issued by the bank and also the acknowledged copy of the letter issued by the clearing member to the clearing bank (as per specified format)

The Clearing Corporation shall thereon communicate the date from which the new primary clearing account will be operational. The clearing members are required to intimate the Clearing Corporation whether they wish to continue the existing primary clearing account as one of the additional clearing accounts or discontinue the existing primary clearing account after the change in primary clearing bank. In the event where the clearing members wish to discontinue the existing primary clearing account, the Clearing Corporation shall communicate the date after which the existing primary clearing account may be closed by the clearing member.