Clearing Banks

clearing-banks-page

Funds to be paid and or to be received shall be settled through Banks which are designated as Clearing Banks by Clearing Corporation from time to time. NCCL has empaneled following Clearing Banks.

Contact Details of Designated Clearing Banks and their Branches are as follows:

Address: Axis Bank Limited, Axis House Wadia International Center, Pandurang Budhkar Marg, Worli, Mumbai - 400025
Name: Ashok Joshi
Designation: Senior Vice President
Contact Details: 9711361299
Name: Neel Shah
Designation: Senior Vice President
Contact Details: 9324272216
Name: Srinath S Nair
Designation: Vice President
Contact Details: 022-68723819
Mobile: 9082800674

Address: Bank of India, Stock Exchange Building, Ground Floor, Dalal Street, Fort, Mumbai - 400001
Name: Mr. Kush Ganhotra
Designation: Ass. General Manager
Contact Details: 022-22722400/22721785

Corresponding Address: Stock & Commodity Exchange Branch, Atlanta Building, 115, 11th Floor, Nariman Point, Mumbai - 400021.
Name: Mr. Abhishek Pagare
Designation: Senior Manager
Contact Details: 022-22023166/67
Mobile: 8770430746

Address: HDFC Bank Ltd., Zenith House, 2nd Floor, Opp Mahalaxmi Race Course, K.K Road, Mumbai - 400034
Name: Prashant Patel
Contact Details: 9821634545
Name: Chetan Anam
Contact Details: 9323292987
Name: Mahesh Btla
Contact Details: 9323292987

Address: Capital Market Division, 1st Floor, 122, Mistry Bhavan, Dinshaw Vachha Road, Backbay Reclamation, Churchgate, Mumbai - 400020.
Name: Mr. Avinash Kansal
Designation: Head - Capital Markets & Custody
Contact Details: +91 22 26536505
Mobile: 9836068214
Name: Mr. Vikas Miglani
Designation: Zonal Head, Capital Market Division
Contact Details: +91 11 41925302
Mobile: 9870263275
Name: Mr. Bhushan Pande
Designation: Chief Manager, Captal Market Division
Contact Details: +91 22 26537441
Mobile: 9561086953
Name: Ms. Jayashree K
Designation: Unit Head – TSSG SMS
Contact Details: +91 22 66672005
Mobile: 7400086991
Name: Mr. Kiran Hejmadi
Designation: Chief Manager – TSSG SMS
Contact Details: +91 22 66672793
Mobile: 9930061446

Corresponding Address: PNA House Office, 4th Floor, PNA House Plot No. 57 571 Street No.17, MIDC, Andheri East, Mumbai 400 093.
Name: Mr. Ritesh Sing
Designation: Head – Financial Services Group
Mobile: +91 9833383936
Name: Mr. Dharmendra Jakhodia
Designation: Vice President Capital and Commodity Market Division
Contact Details: 022 – 6636 6579
Mobile: 9820189141
Name: Mr. Hetal Divanji
Designation: Head – Capital Market Operations
Contact Details: 022-61069363
Mobile: 9820062805
Name: Mr. Kaushik Chatterjee
Designation: DVP – Unit Head - Primary and Secondary Market
Contact Details: +91 22 69897475
Mobile: 99202 09335
Office: For Exchange operations
Contact 1: +91 22 6106 9306 / 9412
Contact 2: +91 22 69897469 / 7470

Address: Financial Institutions Group, 27 BKC, 3rd Floor, Plot No. C-27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra – 400 051.
Name: Ankit Morakhia
Designation: Vice President
Mobile: +91 8879440009
Name: Sachin Samant
Designation: President
Mobile: 9820347421

Address: Baba House, Plot No 237 Gr Flr., 27th Road, Off Linking Road, Bandra (w), Mumbai - 400050.
Name: Mr. Vijayan S
Designation: Chief Manager
Mobile: 8754430722
Name: Mr. Ramesh
Designation: V.P Commodity Clearing Officer
Mobile: 7736598886
Contact Details: 022-26415729 / 26426174
Name: Mr. Santosh Jogdande
Designation: Commodity Clearing Officer
Mobile: 9969435164
Contact Details: 022-26415729 / 26426174

Corresponding Address: Capital Markets Cell, Mumbai Samachar Marg Branch, 66/80 Mumbai Samachar Marg, Fort, Mumbai 400 023.
Name: G L Kundelwal
Designation: AGM
Contact Details: 022-22629302
Mobile: 9099931665
Name: Rajan Madye
Designation: Senior Manager
Contact Details: 022-22629302
Mobile: 9892617896
Name: Surajit Senapati / Saurav Das / Shambhu Majhi
Designation: Manager
Contact Details: 022-22629333

Disclaimer for Clearing Banks empaneled with NCCL

Members of the NCCL are hereby informed that before selecting and or appointing any of the Clearing Banks from the list of Clearing Banks empanelled by NCCL, they may have their due diligence done about the Bank they wish to select and / or appoint for clearing and settlement of the transactions done by them on NCCL. The list only indicates the Banks who have established connectivity and network with NCCL and have the necessary infrastructure required to facilitate the clearing and settlement of transactions of the members. In the event of any negligence in providing services and or failure to provide services by any Clearing Bank or any other dispute arising between the member and the Clearing Bank, NCCL shall not be responsible and/or liable for the same.

  1. Every Clearing Member is required to maintain and operate a Settlement account with any one of the designated clearing bank branches. The clearing account shall be used exclusively for clearing operations i.e., for settling funds and other obligations, payments of margins, penal charges, etc. as may be specified by the Clearing Corporation from time to time.
  2. Clearing members shall irrevocably authorize, as per the format given in prescribed format (Undertaking to be submitted by clearing member to the clearing banks)to the clearing banks to access their clearing account for debiting and crediting their Settlement account as per the instructions of the Clearing Corporation, reporting of balances and other operations / information as may be required by the Clearing Corporation from time to time and furnish to the Clearing Corporation an acknowledged copy of the same along with the account particulars issued by the clearing banks.
  3. A Clearing Member can deposit funds into this account in any form and can withdraw funds from this account only in self-name
  4. A Clearing Member having funds obligation to pay is required to have clear balance in his clearing account on or before the stipulated pay-in day and the stipulated time. .
  5. A Clearing Member shall not seek to close or de-activate the clearing account without the prior written consent of the Clearing Corporation.
  6. The clearing banks shall debit/credit the clearing account of clearing members as per instructions received from the Clearing Corporation from time to time. Any request from the clearing members for revoking the authorization furnished by them shall not be considered by the clearing banks. The clearing banks shall not close the clearing account or permit deactivation of the same without the prior written consent of the Clearing Corporation.
  7. All bank confirmations received from clearing banks on behalf of the members towards margins, funds pay-in, etc. shall be given effect only after receiving a written/electronic confirmation from their respective clearing banks

In case a Clearing Member wants to close a clearing account with one designated clearing bank and open a clearing account with another designated clearing bank, the following procedure is required to be followed.

  1. The Clearing Member shall request NCCL in writing seeking its permission to close a clearing account with one designated clearing bank and to open a clearing account with another designated clearing bank.
  2. The Clearing Member shall submit the said request alongwith No Objection Certificate (NOC) from his existing designated Clearing bank or where the NOC is not received, furnish an acknowledged copy of the NOC request along with a declaration to the effect that no response has been received from the existing clearing bank in respect of the NOC request even after a minimum waiting period of a fortnight.
  3. On opening the clearing account with the other designated clearing bank, the clearing member shall submit to NCCL the documents relating to the new clearing account
  4. NCCL will inform the Clearing Member a date from which the clearing account will be made operational.
  5. Subsequently, NCCL will intimate the Clearing Member a date on which the Clearing Member may close the earlier clearing account.