Approved Banks for acceptance of Bank Guarantee and Fixed Deposits

National Commodity Clearing Limited, vide Circular No. NCCL/RISK-042/2026 dated August 04, 2026, has announced an important update regarding the revised list of approved banks for acceptance of Bank Guarantees (BGs) and Fixed Deposits (FDs) as collateral.

Key Details of the Update –

• NCCL has revised the list of approved banks for acceptance of Bank Guarantees (BGs) and Fixed Deposits (FDs) as eligible collateral.

• Key Changes: RBL Bank Ltd. has been included in the list of approved banks.

• The revised list of approved banks comprises:
• AU Small Finance Bank Ltd.
• Axis Bank Ltd.
• Bank of India
• Bank of Maharashtra
• Canara Bank
• HDFC Bank Ltd.
• ICICI Bank Ltd.
• IDBI Bank Ltd.
• IDFC First Bank Ltd.
• Indian Bank
• IndusInd Bank Ltd.
• Karur Vysya Bank Ltd.
• Kotak Mahindra Bank Ltd.
• Punjab National Bank
• RBL Bank Ltd.
• State Bank of India
• Union Bank of India

• Members may refer to the Risk Management → Reports → Bank-wise available limits for acceptance of BGs, FDRs and Securities section on the NCCL website for the latest bank-wise collateral limits.

• Applicability: The circular applies to all Members of the National Commodity Clearing Limited (NCCL).

• Effective Date: The revised list of approved banks for acceptance of BGs and FDs as collateral shall be effective from August 05, 2026.

• Penalty/Consequence: Not Mentioned.

Actions if Any –

• Members should use the revised list of approved banks while furnishing Bank Guarantees and Fixed Deposits as collateral from the effective date.

• Members should refer to the NCCL website for the latest bank-wise available collateral limits.

Compliance Deadline –

• Effective from August 05, 2026, members must submit BGs and FDs in accordance with the revised list of approved banks.