NSE has issued a reminder to all trading members to ensure their Stock Brokers Indemnity Policy is in order for FY 2026-27, as mandated by SEBI directive dated January 19, 1996. Policy details must be submitted electronically through the ENIT platform. Members whose policies expire on May 31, 2026 have until July 31, 2026 to submit; all others have one month from their policy expiry date.

Key Points

• All trading members must maintain a valid Stock Brokers Indemnity Policy as per SEBI directive (January 19, 1996)
• Submissions must be made exclusively in electronic format through ENIT (https://enit.nseindia.com/MemberPortal/)
• Members with policies expiring May 31, 2026 must submit details by July 31, 2026
• Members with policies expiring on other dates must submit within one month of expiry
• Members opting for policies through ANMI or BBF are exempt from ENIT submission
• Non-compliance will attract disciplinary action as per NSE circular NSE/INSP/73792 dated April 17, 2026

Regulatory Changes

No new regulatory changes. This circular reaffirms the existing SEBI mandate (January 19, 1996) requiring trading members to hold insurance cover and specifies the electronic submission process via ENIT for FY 2026-27.

Compliance Requirements

• Trading members must verify their Stock Brokers Indemnity Policy is active and valid for FY 2026-27
• Submit policy details (insurance company name, policy number, policy dates, premium amount, sum insured) via ENIT under Compliance > Insurance module
• Upload premium renewal receipt or insurance certificate (PDF, BMP, JPG, JPEG, DOC, DOCX, MPEG, ZIP, or TIF; max 10 MB)
• Provide correct email ID and mobile number for status updates
• Members registered with multiple exchanges must indicate whether a common policy covers all exchanges; if not, provide sum insured per exchange
• ANMI and BBF policy holders are exempt from ENIT submission

Important Dates

• May 31, 2026: Policy expiry date for a category of trading members
• July 31, 2026: Deadline for submission via ENIT for members whose policy expires on May 31, 2026
• Within 1 month of expiry: Deadline for all other trading members with policies expiring on different dates

Impact Assessment

This circular has a moderate operational impact on all NSE trading members. Every member must review the validity of their Stock Brokers Indemnity Policy and complete electronic filing through ENIT. Failure to comply will be treated as non-compliance and may result in disciplinary action under the framework established in NSE/INSP/73792 (April 17, 2026). The process is well-defined with a step-by-step user manual provided in the annexure. No market-wide or stock-specific impact is expected.