NSE Clearing offers settlement of funds through 13 clearing banks namely Axis Bank Ltd., Bank of India, Canara Bank, Citibank N.A, HDFC Bank, Hongkong & Shanghai Banking Corporation Ltd., ICICI Bank, IDBI Bank, IndusInd Bank, Kotak Mahindra Bank, Standard Chartered Bank, State Bank of India and Union Bank of India (Contact Details of Clearing Banks)

Members may open their clearing accounts with any of the empanelled clearing banks for the purpose of settlement of Exchange transactions.

The clearing banks are required to provide the following minimum services as a single window to all clearing members of National Securities Clearing Corporation Ltd. as also to the Clearing Corporation:

• Branch network in cities that cover bulk of the trading cum clearing members
• High level automation including electronic funds transfer (ETF) facilities
• Facilities like (a) dedicated branch facilities (b) software to interface with the Clearing Corporation (c) access to accounts information on a real time basis (d) back-up procedures and fall back mechanism in case of failure of the bank system
• Value-added services to members such as free-of-cost funds transfer across centres etc.
• Providing working capital funds
• Stock lending facilities
• Services as Professional Clearing Members
• Services as Depository Participants
• Other Capital Market related facilities
• All other banking facilities like issuing bank guarantees / credit facilities etc.

Multiple clearing banks provide advantages of competitive forces, facilitate introduction of new products viz. working capital funding, anywhere banking facilities, the option to members to settle funds through a bank, which provides the maximum services suitable to the member.