The National Commodity Clearing Limited (NCCL), on April 13, 2026, issued a Master Circular consolidating all guidelines and procedures related to Clearing & Settlement, by integrating earlier circulars issued up to March 31, 2026 into a single comprehensive document.
The circular clarifies that in case of any inconsistency between the Master Circular and previously issued circulars, the provisions of the original applicable circular shall prevail. This ensures continuity and legal clarity in interpretation of clearing and settlement processes.
Further, it provides that any actions taken, rights accrued, liabilities incurred, or proceedings initiated under earlier or revised/rescinded circulars shall remain valid and unaffected. The Master Circular has been issued under Bye-law 6.4 of NCCL Bye-laws to streamline and centralize regulatory instructions.
[Circular No. NCCL/CLEARING−023/2026]
