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We are financially very strong, reiterates BSE

The Bombay Stock Exchange on Monday reiterated that it was "financially very strong and does not envisage any kind of payment problem in the near future with total funds available being around Rs 26 billion".

The corpus of the exchange's trade guarantee fund (TGF) stood at Rs 19.04 billion as on February 28, 2001, and till now BSE has successfully completed all its pay-ins, BSE said in a media release.

The last pay-in of settlement no 50/2000-01 was held on March 15 for the period ending March 9, 2001, it added.

The statement said the exchange had insured the TGF for Rs 600 million from the New India Assurance Company Ltd and any loss up to the notified amount arising out of the member's default in a year, would be made good by the insurers.

BSE's own reserves and surplus stands at Rs 4.50 billion and the Brokers' Contingency Fund and Investors' Protection Fund were to the tune of Rs 270 million and Rs 1.20 billion respectively, the release said.

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