The Clearing Corporation of India Ltd. (CCIL) has issued a revised Collateral Work-Flow Procedure for Member Common Collateral (MCC), effective August 17, 2026, superseding the earlier notifications issued in 2023, 2025 and 2026. The revised framework applies to members maintaining SGL accounts with RBI and Current Accounts with RBI or Designated Settlement Banks (DSBs).
The following has been stated:
Members can contribute and withdraw cash and securities towards MCC through the Integrated Member Portal, with prescribed workflows and cut-off timings.
The notification prescribes detailed procedures for collateral contribution, withdrawal, securities substitution, and Value Free Transfer (VFT) of securities using RBI’s eKuber system.
CCIL has introduced a framework for direct transfer of securities between MCC, Default Fund and Tri-party Repo (TPR) collateral, reducing the need for movement of securities between members' and CCIL’s CSGL accounts.
The notification specifies minimum cash collateral requirements, eligibility criteria for collateral, interest payable on eligible cash balances, treatment of corporate actions, and operational guidelines for proprietary and constituent collateral.
Standardised formats for Contribution Notice, Withdrawal Notice, and Intra-Security Transfer Notice have also been prescribed.
The revised collateral workflow will come into effect from August 17, 2026 and will govern all MCC-related operations undertaken by eligible CCIL members.
[Notification No. CCIL/OPS/MCC/2026-27/22]
