> Procedure for change in designated Clearing Banks
Procedure for change in designated Clearing Banks
In case a Clearing Member wishes to shift their settlement account from one designated Clearing Bank to another, the following procedure shall be followed:
- The Clearing Member shall submit their request letters (on their letterhead) of their intent to shift their settlement account from one designated Clearing Bank to another, to INDIA INX as per the format enclosed below as Annexure.
- As soon as the formalities are completed, INDIA INX 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, INDIA INX will continue to debit /credit the member’s existing clearing bank account.
Annexure Format of member’s request letter for change of designated Bank