Description

NSE publishes updated list of 213+ securities approved for participation in the Securities Lending and Borrowing Scheme, including major indices constituents and blue-chip stocks.

Summary

NSE has published a revised list of securities eligible for the Securities Lending and Borrowing Scheme (SLBS). The list includes 213+ securities across various sectors, comprising major index constituents, blue-chip stocks, and ETFs. This update determines which securities can be borrowed or lent through the exchange’s institutional lending mechanism.

Key Points

  • Revised list contains 213+ securities approved for SLBS participation
  • Includes major blue-chip stocks across banking, IT, pharma, auto, and other sectors
  • List covers Nifty 50 constituents, sectoral leaders, and select ETFs
  • Contains securities from diverse market capitalizations and sectors
  • Includes major banking stocks (AXISBANK, HDFCBANK, ICICIBANK, SBIN)
  • Features leading conglomerates (Adani Group, Bajaj Group stocks)
  • Covers sectoral ETFs (BANKBEES, AUTOIETF, CONSUMBEES)

Regulatory Changes

This circular represents a periodic update to the SLBS framework. No fundamental regulatory changes are introduced; rather, this is a revision of the eligible securities list based on NSE’s criteria for inclusion in the lending and borrowing scheme. The scheme continues to operate under existing SEBI regulations governing securities lending.

Compliance Requirements

  • Market participants must refer to this updated list for SLBS transactions
  • Only securities listed in Annexure I are eligible for lending and borrowing
  • Institutional investors and approved intermediaries must ensure compliance with the revised list
  • Trading members facilitating SLBS transactions must verify security eligibility against this list
  • Securities not included in this list cannot be transacted under the SLBS framework

Important Dates

  • Circular Date: November 26, 2025
  • Effective Date: Not explicitly specified (typically immediate upon publication)

Impact Assessment

Market Impact: Medium - The SLBS list revision impacts institutional investors, hedge funds, and market makers who utilize securities lending for hedging, arbitrage, or yield enhancement strategies. A comprehensive list of 213+ securities provides good liquidity and flexibility for lending operations.

Operational Impact: The updated list requires market participants to verify their current SLBS positions and future transactions against the new eligible securities roster. Removal of any previously eligible securities (if applicable) would require unwinding or adjustment of existing positions.

Sectoral Coverage: The list demonstrates broad sectoral representation including financials (banks, NBFCs), industrials, IT, pharmaceuticals, automobiles, consumer goods, and energy sectors, ensuring diverse opportunities for securities lending strategies.

Investor Segment Impact: Primarily affects institutional investors (mutual funds, FIIs, DIIs) who are the main participants in securities lending. Retail investors are generally not directly impacted as SLBS is an institutional mechanism.

Impact Justification

Regular update to SLBS eligible securities list affects lending/borrowing operations for institutional investors and market makers. Moderate operational impact as it expands or maintains the pool of securities available for lending transactions.