ICCL has empanelled the following 25 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 Corporation Bank 022-22671251 9 DBS Bank India Limited 10 Deutsche Bank AG 11 HDFC Bank Limited 022-30753252 /48 12 Hong Kong and Shanghai Banking Corporation Limited 022-45053308/09/10 13 ICICI Bank Limited 022-66673966 / 68 14 IDBI Bank Limited 022-66700637 /73 / 84 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 Oriental Bank of Commerce 20 Punjab National Bank 022-26530196 / 97 21 SBM Bank (India) Ltd 22 Standard Chartered Bank 022-61157288 / 7685 23 State Bank of India 022-22719120 /21/22 24 Union Bank of India 022-22629332 / 33 / 35 25 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:
  • The Clearing Member will have to submit their request letters (on their letterhead) of their intent to shift their settlement account from one designated Clearing Bank to another, to ICCL as per the stipulated format.
  • 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.