Description
NSE Clearing adds UCO Bank to the list of banks authorized to provide electronic bank guarantees as collaterals 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. This allows clearing members to submit bank guarantees from UCO Bank in electronic form as collateral. The update references the original circular from March 13, 2024 that established the E-BG facility.
Key Points
- UCO Bank has been added as an authorized bank for providing electronic bank guarantees
- This facility applies to clearing members in the Debt Segment
- Electronic bank guarantees can be used as collaterals by clearing members and custodians
- Circular reference: NCL/DS/72167, Circular No. 001/2026
Regulatory Changes
No new regulatory requirements introduced. This is an expansion of the existing Electronic Bank Guarantee framework established via Circular ref. no. 0005/2024 dated March 13, 2024.
Compliance Requirements
Clearing members and custodians wishing to provide bank guarantees from UCO Bank can now do so in electronic form through the established E-BG facility. Contact details for collateral operations:
- Telephone: 1800 266 0050 (IVR Option 2)
- Email: collaterals_ops@nsccl.co.in
Important Dates
- Circular Date: January 06, 2026
- Effective Date: Immediate (no specific implementation date mentioned)
Impact Assessment
Minimal market impact. This is an administrative enhancement that provides clearing members with an additional banking option for submitting electronic bank guarantees as collateral. The change improves operational flexibility for members using UCO Bank but does not affect trading operations, settlement processes, or market participants who use other banks.
Impact Justification
Administrative update adding one bank to existing e-BG facility; minimal market impact, affects only clearing members using UCO Bank for collaterals