All
members are hereby informed that Axis Bank and HDFC Bank Ltd have expressed
their desire to provide various funding facilities to the brokers for The
Calcutta Stock Exchange Ltd. under NSE/BSE platform to meet their various
funding obligation which are detailed hereunder:
|
Sl
No. |
Product |
Axis
Bank |
HDFC
Bank |
|
01 |
Bank
Guarantee |
Bank
Guarantee in favour of CSE against 50 % margin (Customer own FDR) for
transaction done in NSE/BSE. |
Bank
Guarantee in favour of CSE against minimum margin of 50 % (Customer own FDR)
for transaction done in NSE/BSE. |
|
02 |
OD
against shares |
-Pledge
of Bank approved shares. - 50
% of value of share pledged. Minimum three shares to be pledged. -Previous
day closing price or last Friday’s closing price whichever is lower. |
-Pledge
of Bank approved shares. - 50
% of value of share pledged. Minimum three shares to be pledged. -Scrip
diversification norms to be followed. |
|
03 |
Pay-
Out Discounting |
-Request
letter, Exchange obligation statement and Exchange confirmation to be
provided. -50%
of total Pay out |
-Request
letter, Exchange obligation statement and Exchange confirmation to be
provided. -50%
of total Pay out |
|
04 |
OD
against own FDR |
-Lien
marking of FDR in favour of the bank. -90%
of FDR |
-Lien
marking of FDR in favour of the bank. -90%
of FDR |
|
05 |
Intraday
funding for exchange Pay-in requirements |
-Customer
request, obligation report and exchange confirmation to be provided. -Drawing
power to be decided from case to case basis. -Rate
of interest 5% Per annum |
-Customer
request, obligation report and exchange confirmation to be provided. -Drawing
power maximum up to 50% of the payout amount. |
The
terms & Conditions of such funding can be negotiated between bank and
brokers on case-to-case basis.
The
bank has given the following details of the contact persons:
· Axis Bank:
1. Mr. Shekhar Ganguly (AVP) Tel: 03322623356/57/58
Mobile No: 9830876777
Email Id: shekhar.ganguly@axisbank.com
2.
Mr. Amit Kumar
Mishra (Senior Manager)
Fax:03322623359, Mobile No: 9830086460
Email Id: amitkumar3.mishra@axisbank.com
· HDFC Bank
1. Mr. Prateek Bothra, Assistant-Vice-President
Tel: 033-44026486 Mobile: 9339108406
E-mail : Prateek.bothra@hdfcbank.com
2.
Mr.Umang Kumar
(Relationship Manager)
Fax: 033-44026487, Mobile No:
9339127565
Email Id: Umang.Kumar@hdfcbank.com