Description

NSE Clearing adds The South Indian Bank Ltd. to the approved list of banks for issuing Fixed Deposits towards security and margin deposits in Futures and Options Segment.

Summary

NSE Clearing Limited has added The South Indian Bank Ltd. to the existing list of approved banks authorized to issue Fixed Deposit Receipts (FDRs) and Bank Guarantees (BGs) towards security deposit and margin deposit requirements for the Futures and Options Segment. This is an addition to the list published in circular 0127/2025 dated September 22, 2025.

Key Points

  • The South Indian Bank Ltd. is now approved for issuing FDRs and BGs
  • The bank is approved for E-FDR facility (Yes)
  • The bank is not approved for E-BG facility (No)
  • This is an addition to the existing approved bank list, not a replacement
  • Members and custodians must take note of this update

Regulatory Changes

No regulatory changes. This is an administrative expansion of the approved banks list for collateral purposes.

Compliance Requirements

  • Members, Custodians, and Professional Clearing Members (PCM) should update their records with the revised approved bank list
  • Members may now accept FDRs from The South Indian Bank Ltd. as collateral for F&O segment margin requirements
  • Contact collaterals_ops@nsccl.co.in or call 1800 266 0050 (IVR Option 2) for queries

Important Dates

  • Circular Date: October 07, 2025
  • Effective Date: Immediate
  • Reference Circular: 0127/2025 dated September 22, 2025

Impact Assessment

Operational Impact: Low - This administrative update provides members with an additional banking option for submitting collateral in the form of Fixed Deposit Receipts for F&O segment operations. It enhances flexibility for members in managing their margin and security deposit requirements but does not impose any mandatory changes or new obligations. The addition of one bank to an existing list has minimal operational impact on day-to-day trading activities.

Impact Justification

Administrative update adding one bank to approved list for collateral deposits; does not affect trading rules or impose new compliance obligations