The Clearing Corporation of India Ltd. (CCIL) on January 22, 2025, issued the notification regarding CCIL’s Securities, Forex, Tri-party Repo, Rupee Derivatives Segments and Trade Repository - Acceptance of Monthly Transaction Charges.
The following has been stated namely: -
• Currently the members remit the monthly transaction charges to CCIL by using the RTGS/NEFT System of Funds Transfer to CCIL’s business account maintained with HDFC Bank.
• A new process/system of payment has been introduced into a ‘Virtual Account Number’ (VAN), which is mapped to CCIL’s SBI current account.
• Each Member has been assigned a unique VAN ID mapped to their respective CCIL Member ID
• Members’ VAN ID shall be mentioned Invoices/bills and this new process/system shall be implemented from the bills from January 2025
• Post payment of the transaction charges, Members are required to update the payment details in the new Bill Payment Intimation System. This new system will help addressing the difficulties faced in accounting of receipts due to insufficient information of the remitter, deduction of TDS and/or GST TDS deductions.
[Notification No. CCIL/MEM/24-25/03]
