Sub. : Settlement process for Non Competitive Bidding (NCB) platform
This is with reference to the BSE Notice No. 20180423-42 dated April 23, 2018, and ICCL Notice No. 20180424-34 regarding ‘Launch of non-competitive bidding facility to participate in Auction for Government Securities conducted by RBI‘.
In this connection, participants are requested to note the following process for funds pay-in and securities pay-out pertaining to bids on NCB Platform:
1) Members will be required to transfer funds in respect of the bids for NCB-Gsec Segment in the designated Clearing Bank account of ICCL
2) The process of transferring funds through the collateral module is the same as that of Equity (Cash) Segment. However, while instructing the Clearing Banks for the same, the members should specify the segment as NCBGSEC segment of BSE.
3) The funds for the bids will be accepted till 10.00 am on the NCB Auction day. The bids for which funds pay-in is not done by the participants by 10.00 am are liable to be rejected.
4) The allotted securities received from the RBI will be transferred to respective investor’s account. In case the securities do not get transferred to the investor account, then the same will be transferred to respective member’s pool a/c for onward transfer to their clients.
For any further clarifications, Participants & Custodians may contact on the following numbers:-
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Contact Number
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Email ID
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Settlement queries
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22728468
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bse.csd@bseindia.com
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22728704
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22728223
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22725163
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For and on behalf of Indian Clearing Corporation Ltd.
Sanjay Narvankar Ajay Darji
Deputy General Manager Sr. Manager
April 25, 2018
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