Payment crisis to be solved today

MUMBAI, June 18: The payment crisis on both the Bombay Stock Exchange BSE and the National Stock Exchange NSE is likely to be resolved by Friday. quot;On Friday it will be clear how many BSE brokers will be declared defaulters. Pay-out will be over by Friday,quot; said an exchange source.

BSE is likely to withdraw Rs 15-20 crore from the trade guarantee fund to meet the payment obligations. On the other hand, five National Stock Exchange members who have failed to bring in funds to meet their settlement dues have informed the exchange that they are likely to find someone to bail them out of the crisis.

This could be through a direct deal between the clearing corporation and the bailing out party or through a negotiated deal between the broker and the party.