The National Commodity Clearing Limited (NCCL) on January 23, 2026, notified regarding the Scheme of deposit for acceptance of Mutual Fund Units as collateral.
The following has been stated: -
• It has issued a Scheme for the deposit and acceptance of Mutual Fund Units as collateral effective from February 1, 2026. Under this scheme, members may pledge approved mutual fund units as part of their Additional Base Capital (ABC) collateral to support trading and clearing obligations.
• The circular revises the list of eligible mutual fund units and the applicable haircut percentages for valuation, with units valued daily at their NAV and reduced by relevant haircuts to determine collateral value.
• Usage limits are set, including a maximum of ₹100 crore per mutual fund at the Asset Management Company (AMC) level and a ₹50 crore limit per clearing member post-haircut, with the total approved collateral (including securities and commodities) capped at a percentage of total effective deposits.
• Approved mutual funds follow the list provided in the annexure, and mutual funds removed from the approved list lose collateral eligibility.
The detailed notification is attached below.
[Notification no. - NCCL/RISK-003/2026]
