Description
NSE Clearing adds The South Indian Bank Ltd. to the approved list of banks for issuing Fixed Deposits and Bank Guarantee receipts for Capital Market Segment.
Summary
NSE Clearing Limited has revised the list of approved banks for the issuance of Fixed Deposit Receipts (FDRs) and Bank Guarantees (BGs) towards security deposit and margin deposit for the Capital Market Segment. The South Indian Bank Ltd. has been added to the existing list of approved banks.
Key Points
- The South Indian Bank Ltd. added to approved banks list
- Approved for E-FDR issuance: Yes
- Approved for E-BG issuance: No
- Applies to security deposit and margin deposit for Capital Market Segment
- This is an addition to the existing list published in circular 0295/2025 dated September 22, 2025
Regulatory Changes
No regulatory changes. This is an operational update expanding the list of approved financial institutions.
Compliance Requirements
Members, Custodians, and PCMs should note the updated list of approved banks when submitting Fixed Deposit Receipts and Bank Guarantees for collateral purposes.
Important Dates
- Circular Date: October 07, 2025
- Effective Date: Immediate
- Previous Circular Reference: 0295/2025 dated September 22, 2025 (NCL/CMPT/70347)
Impact Assessment
Low impact administrative update. Provides members with an additional banking option for submitting collateral in the form of Fixed Deposit Receipts. The South Indian Bank Ltd. can now be used for E-FDR submissions but not for E-BG purposes. This expands operational flexibility without imposing new requirements or restrictions.
Impact Justification
Administrative update adding one bank to approved list for collateral purposes. Does not affect trading operations or impose new compliance requirements.