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New Delhi, Sept.14 Deutsche Bank announced on Monday that it has been appointed as a US dollar clearing bank for the Clearing Corporation of India Ltd (CCIL).

According to the private sector bank, CCIL will leverage Deutsche Bank’s treasury payment capabilities and the US dollar clearing services to settle its transactions, using the bank’s Money Transfer New Architecture (MTNA) platform.

“The MTNA platform will enable us to process our US dollar settlements more efficiently. It supports our goal of safeguarding the well-being of our member banks by continuing to introduce innovative solutions to improve our operating efficiency,” Ms Indiarani Rao, Chief Forex Officer, CCIL.

CCIL, which is a clearing and settlement house for transactions in government securities, foreign exchange and money and debt markets, provides its services to 73 member-banks in India.

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