Notice No.   20220203-42   Notice Date   03 Feb 2022
Category   Compliance   Segment   General
Subject   Guidelines for maintaining bank accounts by the Trading Members

This is further to the Exchange notice nos. 20201218-63 dated December 18, 2020, 20201106-46 dated November 06, 2020 and 20201127-14 dated November 27, 2020 on Guidelines for maintaining client bank accounts by the Trading Members.


Exchange in recent past has observed that certain members had maintained their bank accounts with co-operative banks. However, members were not able to withdraw the funds from such banks due to restrictions imposed by the regulator on account of regulatory concerns observed. In view of the same, members are hereby advised to maintain client bank accounts with banks designated as Clearing Banks by the Clearing Corporations from time to time. Further, in order to ensure safety of members’ own assets, members are also directed to maintain own/proprietary account with scheduled banks only.


In case, members have maintained client bank accounts and/or own bank account with other than clearing banks or scheduled banks respectively, then members are directed to close such accounts by March 15, 2022.


Members are also requested to note that, as per the requirement of SEBI circular SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/95 dated September 26, 2016 “In case of closure of any of the reported bank accounts, the same shall be communicated to the Stock Exchanges within one week of its closure.”


Members are requested to take note of the contents of the circular and comply.


In case of any queries, you may please contact at 022-22728435 / 22725785.



For and on behalf of BSE Ltd.



Hiteshkumar Desai                                                   Kiran Sawant

Additional General Manager                                   Asst. General Manager

Broker Supervision                                                   Broker Supervision