The NSE vide circular dated November 27, 2020 has clarified Guidelines for maintaining client & settlement bank accounts by the Trading Members. In the Guidelines for maintaining client & settlement bank accounts by the Trading Members wherein it was mentioned that in case, member has more than 30 such bank accounts, then members were required to close the excess bank accounts named as “Name of Stock Broker – Client Account” & “Name of Stock Broker – Settlement Account” by November 30, 2020. The timeline to close the excess bank accounts named as “Name of Stock Broker – Client Account” & “Name of Stock Broker – Settlement Account” have been extended to December 31, 2020.
