The National Stock Exchange (NSE) on April 21, 2026, issued Operational guidelines for submission of Half Yearly Networth Certificate as on March 31, 2026.
This circular is issued in continuation of earlier instructions regarding submission of the Half-Yearly Networth Certificate as on March 31, 2026. As per the continuing membership norms of NSE Clearing Limited (NCL), all members are required to maintain the prescribed minimum net worth at all times and submit the net worth certificate on a half-yearly basis. Accordingly, members must upload the required certificate through the NCL portal on or before May 31, 2026.
Members are required to follow the prescribed formats and computation methods provided in Annexure I, along with user manuals for portal usage and sub-user creation in Annexures II and III. Access to the submission utility is restricted, and sub-users should be granted only limited rights for the NCL inspection module. Members must use their existing admin credentials to log in and complete the submission process.
As per SEBI (Stockbrokers) Regulations, 2026, members must maintain net worth based on the higher of base net worth or variable net worth. The variable net worth is calculated as 10% of the average daily client balances retained over the previous six months, including cash, bank guarantees (BG), and fixed deposit receipts (FDR) across all segments and exchanges. Any significant variation (25% or more) or shortfall in net worth must be properly explained, and revised certificates must be submitted where applicable.
Failure to submit the net worth certificate within the due date, or failure to address shortfalls and submit revised certificates, will attract action as per applicable NCL circulars and regulations. Members facing any issues during submission can contact the designated email support, and are advised to ensure timely and accurate compliance to avoid regulatory action.
[Circular No. 13/2026]
