NSE Clearing Limited (NCL), via circular NCL/MFSS/74181 dated May 12, 2026 (Ref. No. 0167/2026), provides detailed API specifications for payment aggregators participating in the Mutual Fund Service System (MFSS). This is a follow-up to circular NCL/MFSS/74000 dated April 30, 2026. Participants using their own payment aggregators must implement these APIs to submit Global MIS data to NSE.

Key Points

• Applies to MFSS participants using their own payment aggregators
• API endpoint: POST https://{{API URL}}/nsemfAmc/api/v1/globalmis
• Authentication uses AES-128 bit encryption with an API Member License Key and random salt/IV values
• Encrypted password format: base64(iv::salt::aes_encrypted_val)
• Authorization header must carry base64(Login User ID: Encrypted Password)
• IP whitelisting is mandatory; unregistered IPs receive a 403 FORBIDDEN error
• 17 fields defined in the Global MIS request, including mandatory fields for member ID, client ID, amount, UTR number, IFSC, account number, and funds transfer mode

Regulatory Changes

This circular introduces no new regulatory rules but formalises technical API integration requirements for payment aggregators as a follow-up to NCL/MFSS/74000 (April 30, 2026).

Compliance Requirements

• Participants must whitelist their IP addresses with NSE before using the API
• API credentials (API Secret and API Member License Key) must be obtained from NSE
• Requests must include all mandatory fields: unique_request_id, member_id, client_id, amount, funds_receipt_date, utr_number, ifsc_number, pg_bank_reff_number, account_number, funds_transfer_pay_mode, and bank_code
• Authentication parameters must be passed as request headers with Content-Type: application/Json

Important Dates

• May 12, 2026: Circular issued (NCL/MFSS/74181)
• April 30, 2026: Preceding circular NCL/MFSS/74000 issued (reference baseline)
• No explicit go-live or deadline date stated in this circular

Impact Assessment

Impact is limited to MFSS participants who use their own payment aggregators for mutual fund transactions. These entities must implement the specified API integration, including AES-128 encryption logic and IP whitelisting, to continue submitting Global MIS data. No impact on retail investors, listed companies, or broader market operations.