eFDR
Comprehensive platform to digitize communication between
Bank and NSE for Fixed Deposit Collateral Management.
Hassle free Digitized process for Financial Institutions to give collateral before participating in the equity market.
Maker-Checker Based process to capture the FDR – Creation, Release, Pre-closure with interface to NSCCL via API.
Auto User Creation based on Activity Directory based on AD Group.
Scheduled Alerts for Operations team to EOD status on FDRs.
Active Directory based control of user access based on AD group.
Winover your challenges with eFDR
Financial Institutions needs to have collateral of Fixed Deposit with banks certified by NSE before they can participate in equity market. All the FD’s issued or matured by banks needs to be informed to NSE via NSE API stack.
eFDR is a platform that is consuming the API stack of NSE and contains a front end for bank users to notify NSE once collateral deposit funds from Financial Institutions (FI) are placed with Bank in India and lien marked in T24.
Features
Key Features:
- eFDR system provides a user interface for bank users to operate the system with ease
- Communicates with NSE via API to send requests and receive response messages
- Bank users can monitor status and create notifications through the interface
- Supports creation, rollover, settlement, and pre-closure of Fixed Deposits
- Dispatches daily notifications of live Fixed Deposits to bank operations and CSD department for customer intimation and NSE reconciliation
- Dashboard provides reports for total number of live, cancelled, and edited FDs, as well as NSE calls for reconciliation
- Sends automatic notifications to banks for FDs pre-closed at NSE
- Generates month-end reconciliation reports for bank users to reconcile live NSE deposits with T24 system
Benefits
Automate the API based regulation using eFDR
Enables a smooth, paperless customer experience