The National Stock Exchange (NSE) on October 31, 2023, issued the notification regarding the Discontinuation of Reporting of Bank Guarantees (BGs) created out of clients’ funds.
The following has been stated namely: -
• The following dates have been stated with respect to the Reporting of Bank Guarantees (BGs) created out of clients’ funds: -
1. September 30, 2023 - To wind down the existing BGs created out of clients’ funds.
2. October 16, 2023 - To submit the statutory auditor certificate.
• The requirement of weekly reporting of the breakup of Bank Guarantee (BG) placed as collateral with NCL has been discontinued and accordingly the period of the last submission which would be applicable to the member for reporting shall be for the week ended October 21, 2023.
[Notification No. NCL/CMPL/59152]
