ICCL has empanelled the following 24 Clearing Banks to provide banking services to members for clearing & settlement purpose.
| Sr. No |
Name of the Bank |
Bank Contact Details |
| 1 |
Axis Bank Limited | 022-40867528 /29 /30 |
| 2 |
Bank Of Baroda | 022-40468314 |
| 3 |
Bank Of India | 022-22722396 |
| 4 |
Canara Bank | 022-22023166/67 |
| 5 |
Central Bank of India | 022-22623148 |
| 6 |
Citibank N.A. | 022-42343359 / 61 |
| 7 |
City Union Bank Ltd. | |
| 8 |
DBS Bank India Limited | 022-67528349, 99678-31416 |
| 9 |
Deutsche Bank AG | |
| 10 |
HDFC Bank Limited | 022-30753252 /48 |
| 11 |
Hong Kong and Shanghai Banking Corporation Limited | 022-45053308/09/10 |
| 12 |
ICICI Bank Limited | 022-66673966 / 68 |
| 13 |
IDBI Bank Limited | 022-66700637 /73 / 84 |
| 14 |
IDFC First Bank Limited | 9820942869, 9820474904 |
| 15 |
Indian Overseas Bank | |
| 16 |
IndusInd Bank Limited | 022-61069389 / 92 / 21 |
| 17 |
J P Morgan Chase Bank N.A. | |
| 18 |
Kotak Mahindra Bank Limited | 022-66056662 /63/ 67 /68/70 |
| 19 |
Punjab National Bank | 022-26530196 / 97 |
| 20 |
SBM Bank (India) Ltd | |
| 21 |
Standard Chartered Bank | 022-61157288 / 7685 |
| 22 |
State Bank Of India | 022-22719120 /21/22 |
| 23 |
Union Bank of India | 022-22629332 / 33 / 35 |
| 24 |
Yes Bank Limited | 022-33477220 |
The Clearing Members may open settlement accounts with any of the empanelled clearing banks for Funds settlement of all segments. The settlement account to be used for clearing and Settlement operations i.e., for settling funds obligations, payment of margins, penalty charges, etc. as may be specified by ICCL from time to time.
Procedure for change in designated Clearing Bank
In case a Clearing Member wishes to shift their settlement account from one designated Clearing Bank to another, the following procedure is to be followed.
Procedure and formats to be submitted by the clearing member for Change in Clearing Bank:
The member shall submit the following documents with the Clearing Corporation:
- Request letter from the member on his letter head specifying the shift of accounts to another clearing bank, the settlement account number and client account number (in the format enclosed as Annexure-I).
- No Objection Certificate (NOC) from the existing Clearing Bank (format enclosed as Annexure-III).
- Letter from the new clearing bank confirming the settlement account number and the client account number of the member (in the format enclosed as Annexure-IV).
- Copy of Authorisation Letter addressed to new clearing bank.
As soon as the formalities are completed, ICCL will inform the member in writing about the date from which they can start their clearing and settlement operations from new designated Clearing Bank. However, till such time, ICCL will continue to debit /credit the member's existing clearing bank account.