The National Stock Exchange of India Limited (NSE) on March 22, 2024, issued a circular regarding revised file formats in the UCC system of the Exchange.
The following has been stated: -
•This is further to circular NSE/ISC/60830 dated February 23, 2024, pertaining to the receipt of a communication from Protean eGov Technologies Limited, regarding changes in the PAN verification methodology. To facilitate these changes, certain modifications have been made to the Unique Client Code (UCC) file structure.
•The changes shall be effective from March 30, 2024, (i.e. UCC uploaded/modified should be done in the new file format only)
•Some of the changes are as follows: -
(i) The client's name should be entered as stated on the PAN Card. Any deviations between the entered client name and the name as per the PAN card will result in the failure of the PAN Verification process, resulting in the UCC not being permitted to trade.
(ii) An additional non-mandatory field “Client Name Description” has been introduced to facilitate additional information as needed for the client Name, e.g. Member error account, Scheme Name (MF), etc.
(iii) Mandatory for all client categories (including non-individuals). It should be ensured that the date of birth/incorporation should exactly match with that mentioned on the PAN Card. Any mismatch will result in failure of the PAN Verification Process, resulting in the UCC not being permitted to trade.
The detailed circular is given in the document attached below.
[Circular Ref. No: 15/2024]
