Current Affairs - Banking - Discussion

India's Largest stock exchange National Stock Echange (NSE) has given approval to Yes Bank to be empanelled as'Settlement Bank' for National Securities Clearing Corporation (NSCC). It is already empanelled as a 'Clearing Bank' for BSE, NCDEX, MCX. . It will provide different services to the member viz. Settlement and Clearing, electronic fund transfer and 'anywhere' banking and free of cost fund transfer across all centres of NSE's members. NSCCL will be coordinating with YES bank accounts for its risk management and settlement operations that it does on behalf of NSE.