Description
NSE Clearing adds UCO Bank to the list of banks authorized to provide Electronic Bank Guarantees (E-BG) as collateral from clearing members.
Summary
NSE Clearing Limited has expanded its Electronic Bank Guarantee (E-BG) facility by adding UCO Bank to the list of authorized banks. Clearing members and custodians can now submit bank guarantees in electronic form from UCO Bank as collateral. This builds on the existing E-BG framework established in March 2024.
Key Points
- UCO Bank added as authorized bank for Electronic Bank Guarantee facility
- E-BG can be used as collateral by clearing members
- Facility originally introduced via Circular 0044/2024 dated March 13, 2024
- Circular applies to all Members, Custodians, and Professional Clearing Members (PCM)
- Contact: collaterals_ops@nsccl.co.in or 1800 266 0050 (IVR Option 2)
Regulatory Changes
No regulatory framework changes. This is an expansion of the existing Electronic Bank Guarantee acceptance facility to include an additional bank.
Compliance Requirements
Clearing members and custodians wishing to submit UCO Bank guarantees in electronic form as collateral can now do so through the established E-BG facility. No new compliance procedures required beyond existing E-BG submission protocols.
Important Dates
- Effective Date: January 06, 2026
- Reference Circular Date: March 13, 2024 (original E-BG facility circular)
Impact Assessment
Operational Impact: Low - This is an incremental addition providing clearing members with one more banking option for electronic collateral submission. Members using UCO Bank gain convenience but there is no market-wide impact.
Market Impact: Minimal - Does not affect trading operations, settlement processes, or member obligations. Pure administrative enhancement to collateral management options.
Impact Justification
Administrative update adding one bank to existing E-BG facility; no changes to trading rules or compliance requirements; affects only members using UCO Bank for collateral