Description

NSE Clearing adds The South Indian Bank Ltd. to the approved list of banks for issuance of Fixed Deposits and Bank Guarantee receipts for Securities Lending & Borrowing Scheme.

Summary

NSE Clearing Limited has updated the list of approved banks for issuing Fixed Deposit Receipts (FDRs) and Bank Guarantees (BGs) under the Securities Lending & Borrowing Scheme. The South Indian Bank Ltd. has been added to the existing approved banks list, with authorization for E-FDR issuance only.

Key Points

  • The South Indian Bank Ltd. added to approved banks list
  • Bank approved for E-FDR issuance: Yes
  • Bank approved for E-BG issuance: No
  • Applicable for security deposit and margin deposit requirements under SLBS
  • Circular reference: 111/2025 (Download Ref No: NCL/CMPT/70669)
  • Supersedes circular 102/2025 dated September 22, 2025

Regulatory Changes

Expansion of approved banks list to provide participants with additional options for depositing collateral through fixed deposit receipts. The South Indian Bank Ltd. joins the existing panel of authorized banks for SLBS collateral purposes.

Compliance Requirements

  • All SLBS participants and custodians are advised to take note of the revised approved banks list
  • Participants may use The South Indian Bank Ltd. for E-FDR issuance towards security and margin deposits
  • E-BG facility is not available with this bank

Important Dates

  • Circular Date: October 07, 2025
  • Effective immediately upon circular issuance

Impact Assessment

Minimal operational impact. This administrative update provides SLBS participants with an additional banking option for submitting fixed deposit receipts as collateral. The inclusion of The South Indian Bank Ltd. enhances flexibility for participants in managing their margin and security deposit requirements, though it does not change any existing obligations or processes.

Impact Justification

Administrative update adding one bank to approved list for collateral purposes; minimal market impact; affects only SLBS participants who choose to use this bank for FDR issuance