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Clearing Banks

NSE Clearing has empanelled 15 clearing banks namely Axis Bank Ltd., Bank of India Ltd., Canara Bank Ltd., Citibank N.A., The Hongkong & Shanghai Banking Corporation Ltd., ICICI Bank Ltd., HDFC Bank Ltd., IDBI Bank Ltd., IndusInd Bank Ltd., JPMorgan Chase Bank, Kotak Mahindra Bank Ltd., Standard Chartered Bank, Union Bank of India, State Bank of India and Yes Bank.

Every Clearing Member is required to maintain and operate clearing accounts with any of the empanelled clearing banks at the designated clearing bank branches. The clearing accounts are to be used exclusively for clearing & settlement operations.

Clearing Bank Address Contact Person & Numbers
Axis Bank Ltd. Capital Market Division
Jeevan Prakash Building
Sir P.M. Road
Mumbai - 400 001
Mr. Sunil Sharma
Vice President
Tel: 66107250/51
Mobile: 9869663870
Fax: 66107284/85

Mr. Ketan Dani
Asst. Vice President
Tel: 66107269/70
Mobile: 9869574813

Mr. Sajjan Goyal
Tel: 66107273/7255
Mobile: 09867757077

Fax: 66107284/85
Bank of India Ltd. Stock Exchange Branch
Dalal Street
Mumbai - 400 001
Mr. R. S. Nair
Dy. General Manager
Tel: 22722400, 22721787
Mobile: 9820520744
Fax: 22721782

Mr Dhapodkar
Senior Manager
Tel: 22722396
Fax: 22721784/22721788
Canara Bank Ltd. NSE Branch
Varma Chambers, 1st Floor
11 Homji Street
Mumbai - 400 001
Mr. Partha Sarathy
Chief Manager
Tel: 22693157, 22675702, 22658291
Fax: 22670033

Mr K.Y Mallya
Senior Manager
Tel: 22633006
Fax: 22675650
Citibank N.A. Citigroup Global Services
Infinity Towers
1srt Floor, A Wing
Behind Toyota Showroom
Malad (W)
Mumbai- 400064
Mr Ganesh Ramanathan
Vice President
Tel No:40015640

Mr. Rajarshi Chakraborty
Asst Vice President
Tel. No.: 40015652
Mobile: 9820753469

Mr. KVP Satish Chandra
Asst Vice President
Tel. No.: 40015192
Mobile: 9820787010
The Hongkong & Shanghai Banking Corporation Ltd. 52/60
M G Road
Mumbai - 400 001
Mr. Ritesh Jain
Vice President
Head- PCM- Payment Operations
Tel: 67115841
Fax: 66536004

Mr. Shaleen Mahar
Sr. Relationship Manager
Non Bank Financial Institutions
Tel: 22681175, 24980000
Mobile: 9820333047
Fax: 22734388
ICICI Bank Ltd. Capital Market Division
Raja Bahadur Mansion, 30,
Mumbai Samachar Marg,
Fort, Mumbai - 400001
Mr. Naveen Saini
Chief Manager
Mobile: 9930064143
Tel: 22627717

Gopal Singh Rawat
Mobile: 9930065421
Tel: 22627728

Mr. Harish Kotian
Chief Manager- Operations
Mobile: 9930061805
Tel: 66672085, Fax: 66672791
HDFC Bank Ltd. 2nd Floor, Trade World
"A" Wing, Kamala Mills
Lower Parel (W)
Mumbai - 400013
Mr. Shailesh Sukhthankar
Head - Capital & Commodity Market Business
Tel: 24988484 Extn 3334
Mobile: 9323651640

Mr. Chetan A. Shah
Business Head - Capital Market Business
Tel: 24988484 Extn 3538
Mobile: 9322902935

Mr. Ashish Agarwal
Dy Vice President-Capital Market Business
Tel: 24988484 Extn 3565
Mobile: 9323469162
Fax: 022-40804711
IDBI Bank Ltd. Block no 82/83
Road no 7, Street no 15
MIDC, Andheri East
Mumbai -400093
N.R. Viswanadhan
Product head- Capital Market
Tel: 66552259
Mob: 9833651064

Mr. Ajay Thakur / Sadik Ali
Asst Manager
Tel: 66977910
Mobile: 9967222102
IndusInd Bank Ltd. Sonawalla Building
57, Mumbai Samachar Marg
Mumbai - 400 001
Mr. Pradeep Bhave
VP & Branch Head
Tel: 66347722

Mr. Yogesh Adke
Asst. Vice President
Tel: 66366589
Fax: 66366590
JPMorgan Chase Bank J.P. Morgan Tower,
Off. C.S.T. Road, Kalina,
Santacruz - East, Mumbai 400098
Rahul Palan
Vice President
MailID: rahul.s.palan@jpmorgan.com
Tel : 022 61573752

Nikita Tambday
Vice President
MailID: nikita.tambday@jpmchase.com
Tel : 022 61573710

Roopadarshani Keer
Vice President
MailID: roopadarshani.r.keer@jpmorgan.com
Tel : 022 61575008

Gaurav Thanawala
MailID: gaurav.u.thanawala@jpmorgan.com
Tel : 022 61573844
Kotak Mahindra Bank Ltd. Kotak Infiniti, 6th Floor, Building No. 21,
Infinity Park, Off Western Express Highway,
General AK Vaidya Marg,
Malad (E), Mumbai 400097
Mr. Rajiv Gurnani
Sr. Vice President-FIG
Tel: 66596375
Board: 67595351
Fax: 67595364

Mr. Sanjay Mehta
Associate VP - Operations
Tel: 66056658
Fax: 67259065
Standard Chartered Bank 5th floor, Forbes Building
Charanjeet Rai Marg
Mumbai 400 001
Mr. Ashish Kapoor
Associate Director-Transaction Banking - Financial Institution
Tel: 2206 2670
Mobile: 9870224057
Email: ashish.kapoor@sc.com 

Mr. Bineet Desai
Associate Director-Financial Institution, India
Tel: 66372357/66314166
Mobile: 9920554141
Email: bineetnaresh.desai@sc.com
Union Bank of India Capital Market Cell
Mumbai Samachar Marg Branch
66/80, Mumbai Samachar Marg
Fort, Mumbai 400 023
Mr. R.S. Majithia
Asst. General Manager
Tel: 22629303
Fax: 22642742

Mr. Girishchandra Kashyap
Sr Manager
Tel: 22629335
State Bank Of India Mumbai Main Branch
1st floor
International Banking Division
Mumbai Samachar Marg
Mumbai 400 023
Ms. Vidya Krishnan
Asst. General Manager
Mobile : 9821078386

Ms. Supriya Kulkarni
Tel: 22651363

Mr. P.N. Raut
Dy. Manager
Tel: 22644411, 22644972
Mobile: 9870498672

Mr. Sathish Babu
Dy Manager
Mobile: 9870498671
Yes Bank YES Bank Limited
Indiabulls Finance Centre
Tower 2, 24th Floor,
Senapati Bapat Marg,
Elphinstone (W)
Mumbai - 400013
Mr. Ganapathy Puranik
Head - Capital Markets Group
Mobile : +919867176804
Tel : 022 71009296
Mail ID: ganapathy.puranik@yesbank.in

Miss Kiran Shirke
Assistant Vice President
Mobile : +917045472600
Tel : 022 33479038
Mail ID: kiran.shirke@yesbank.in

Mr. Naveen Surana
Senior Vice President
Mobile : +918696361234
Tel : 022 33479039
Mail ID: naveen.surana@yesbank.in

Every Clearing Member is required to maintain and operate a primary clearing account with any one of the empanelled clearing banks at the designated clearing bank branches. The primary clearing account is to be used exclusively for clearing operations i.e., for settling funds and other obligations to the Clearing Corporation including payments of margins and penal charges. A Clearing member having funds obligation to pay shall ensure availability of sufficient clear balance in the clearing account on or before the stipulated funds pay-in day and the stipulated time.

Further, every clearing member can maintain and operate additional clearing accounts (Ref No: NSE/CMPT/12275) exclusively for the purpose of enhancement of collaterals. All the credits and debits other than collateral enhancement specified by the member shall be routed through the primary clearing account

Clearing Members are required to authorise the Clearing Bank to access their clearing accounts for debiting and crediting their accounts, reporting of balances and other information as may be required by NSE Clearing from time to time as per the specified format. The Clearing Bank will debit/ credit the clearing account of clearing members as per instructions received from the Clearing Corporation.

A Clearing member can deposit funds into this accounts in any form, but can withdraw funds from these accounts only in self-name.

Clearing members shall not seek to close or de-activate the clearing account without the prior written consent of the Clearing Corporation

Download file for specified format. (.doc)

In case a clearing member wishes to shift the primary clearing account (Ref. No.: NSE Clearing/F&O/C&S/949) from one designated clearing bank to another designated clearing bank, the following procedure is required to be followed:

  • The clearing member while requesting the Clearing Corporation for a change in the primary clearing bank account shall either
    1. Furnish the no objection certificate (NOC) received by the member from the existing primary clearing bank for shifting of account, or
    2. In case no response was received by the clearing member from the existing primary clearing bank in respect of the NOC request even after a minimum waiting period of a fortnight, a declaration to the above effect along with an acknowledged copy of the NOC request made by the member to the existing primary clearing bank.
  • The Clearing Corporation would thereon issue a letter of introduction to the other designated clearing bank
  • On opening the account with the other designated clearing bank, the clearing member shall submit to the Clearing Corporation the account particulars issued by the bank and also the acknowledged copy of the letter issued by the clearing member to the clearing bank (as per specified format)

The Clearing Corporation shall thereon communicate the date from which the new primary clearing account will be operational. The clearing members are required to intimate the Clearing Corporation whether they wish to continue the existing primary clearing account as one of the additional clearing accounts or discontinue the existing primary clearing account after the change in primary clearing bank. In the event where the clearing members wish to discontinue the existing primary clearing account, the Clearing Corporation shall communicate the date after which the existing primary clearing account may be closed by the clearing member.

Download file for specified format. (.doc)

Updated on: 03/01/2023