Sub Clearing Arrangements
Micro finance banks that do not have operating licenses for clearing can now rely on MCB Bank to act as their sub clearing agent. Transaction Banking Division (TBD) provides services of sub clearing to many micro finance institutions by getting their instruments cleared though NIFT.
TBD facilitates corporate customers for issuance of Initial Public offerings and right shares through MCB Bank branch network with the help of fund holding & customized reporting.
TBD also acts as a custodian to various organizations for carrying out customized requirement of fund collection, holding, placement and repatriation.