Description
NSE Clearing adds UCO Bank to the list of banks authorized to provide Electronic Bank Guarantees (E-BG) as collateral from clearing members in the Currency Derivatives Segment.
Summary
NSE Clearing Limited has expanded its Electronic Bank Guarantee (E-BG) facility by adding UCO Bank to the list of authorized banks. This allows clearing members and custodians in the Currency Derivatives Segment to submit bank guarantees from UCO Bank in electronic form as collateral.
Key Points
- UCO Bank is now authorized to provide Electronic Bank Guarantees for NSE Clearing
- Applies to Currency Derivatives Segment clearing members and custodians
- This is an addition to the existing E-BG facility introduced in March 2024
- Members can contact collaterals_ops@nsccl.co.in or call 1800 266 0050 (IVR Option 2) for queries
Regulatory Changes
No regulatory changes. This is an expansion of the existing Electronic Bank Guarantee facility by adding UCO Bank to the approved bank list.
Compliance Requirements
Clearing members and custodians who wish to use UCO Bank for Electronic Bank Guarantees as collateral can now do so. This is optional and applies only to those choosing to use this facility.
Important Dates
- Circular Date: January 06, 2026
- Effective Date: Immediate (not explicitly stated, but administrative additions typically take effect upon notification)
Impact Assessment
Operational Impact: Minimal. This provides clearing members with an additional banking option for submitting electronic bank guarantees as collateral.
Market Impact: None. This is an administrative update that expands member choices for collateral management.
Member Impact: Positive for clearing members who bank with UCO Bank, as they now have the convenience of submitting electronic bank guarantees through their existing banking relationship.
Impact Justification
Administrative update adding one bank to existing E-BG facility. No market-wide impact or regulatory change, affects only clearing members who choose to use UCO Bank for collateral.