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Banking - General Knowledge Questions
Which Bank has entered into an agreement with Indian Clearing Corporation Ltd. (ICCL) as its Clearing and Settlement Bank?
A)
HDFC Bank
B)
Canara Bank
C)
Indian Bank
D)
Indian Overseas Bank

Correct Answer :   Indian Bank

Indian Bank has entered into an agreement with Indian Clearing Corporation Ltd. (ICCL) as its Clearing and Settlement Bank.

* A statement here on Friday (26th May 2023) said, Indian Bank will now facilitate banking services to members of BSE, Mumbai for clearing and settlement operations.

* Clearing members can now open settlement accounts with the bank for funds settlement under the equity derivatives segment. The proposal to extend this facility to the members of NSE is under active consideration.

* Further, Indian Bank also launched the e-TDR product for online transmission of FDR and margin with ICCL on behalf of the clearing members with its dedicated branch – Fort, Mumbai, it added.

* Mahesh Kumar Bajaj, executive director, Indian Bank exchanged the agreement with Devika Shah, MD & CEO, ICCL to formalize bank’s empanelment at an event held on Thursday, the statement further said..

Source : Times of India

Published On : May 29, 2023
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