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Funds Settlement


Funds pay-in and pay-out shall be through banks designated as Clearing Banks/ RBI by the Clearing Corporation and through the settlement account/RTGS Settlement account of the Clearing Member with Clearing bank/RBI.

The Clearing Member having payable position shall have clear funds in their settlement account on settlement day. The Clearing Bank shall debit the concerned Clearing Members account in accordance with instructions received from Clearing Corporation.

The Clearing Bank shall credit the settlement account of the Clearing Members having receivable position in accordance with the pay-out instructions received from the Clearing Corporation on the settlement day.

The pay-in of funds shall be effected at 02:00 p.m. Clearing members are required to keep their account funded to the extent of funds pay-in obligation (if any) on or before this cut off time. Collateral of the clearing member blocked towards settlement obligation, if any, shall be unblocked on completion of the settlement.

Updated on: 09/03/2020
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