The National Stock Exchange (NSE) on March 06, 2025, issued the notification regarding the Change in collateral formats.
The following has been stated namely: -
• The following formats have been modified namely: -
o Format of letter by member for submission of FDR to Clearing Corporation – Annexure 1
o Format of letter to be provided by Bank issuing FDR to the Clearing Corporation – Annexure 2
o Format of letter to be provided by Bank for renewal of FDR to the Clearing Corporation - when there is change in FDR number – Annexure 3(A)
o Format of letter to be provided by Bank for renewal of FDR to the Clearing Corporation - when there is no change in FDR number – Annexure 3(B)
o Format of Bank Guarantee for Margin Deposit (Fungible) – Annexure 4(A)
o Format of Bank Guarantee for Margin Deposit and Security Deposit (Non-Fungible) – Annexure 4(B)
o Format of renewal of bank guarantee towards margin deposit and security deposit – Annexure 5
• The facility to provide FDR in favour of approved custodians is being discontinued and no fresh or renewal of FDR through approved custodians shall be accepted. Clearing members are requested to approach the respective approved banks for renewal of the same.
The above provisions shall be made effective from April 15, 2025
[Notification No. NCL/DS/66983]
