Facility for Electronic Confirmation of issuance of Bank Guarantee (BG) by Banks.

• Notice No: 20150903-26
• Notice Date: 03 Sep 2015
• Category: Settlement/RMS
• Segment: General

Members are hereby informed, that Indian Clearing Corporation Ltd. (ICCL) would introduce a facility through empanelled Banks for electronic confirmation of Bank Guarantees issued in favour of ICCL towards Liquid Assets (collateral) requirements for clearing members.

The process for availing this facility would be as follows:

·         Members who wish to avail such facility can approach any of the empanelled banks.

·         Submit their request along with the required documents/information and complete the necessary formalities as my be  required by the concerned banks for issuing Bank Guarantees towards Liquid Assets (Collateral) requirements for members of ICCL.

·         If the documents are in order as per bank’s requirements, then the Bank may issue the Bank Guarantee documents in favour of ICCL as per the existing process.

·         Bank will update and confirm such Bank Guarantee information electronically to ICCL through the system provided by ICCL.

The process for withdrawal of such Bank Guarantees would be same as that of the current process for the Bank Guarantee Release.

The following bank shall provide this facility to member’s w.e.f. September 07, 2015:

Bank Name

HDFC BANK LTD.

In case any clarification is required, members may contact their relationship managers or any of the following - :

Sr. No.	Name	Contact No.
1	Mr. Ankit Jain	22728881
2	Mr. Rayan Menezes	22728467
3	Mr. Nishil Lalan	22728567
4	Ms. Vijayeta Gurao	22728185
5	Ms. Rincy Thomas	22728785

For Indian Clearing Corporation Ltd.

Hitesh Shah.

Asst. General Manager.