Speaking to The Financial Express NSE managing director Ravi Narain said that " some cases of shortfall are common and the slight mismatch this time is across brokers and did not involve any dominant entity. The short fall is only to the extent of 3 per cent of the total pay-in. The pay-in to that extent has been smooth and we are likely to meet the shortfall by Friday."

According to a leading broker " The recent decision of the Securities and Exchange Board of India (Sebi) to increase the margin on net outstanding sales position to 25 per cent from the erstwhile 10 per cent and simultaneously decreasing the gross exposure limit to 10 times from 12.5 times had resulted to a paucity of funds with some brokers.

This resulted in a slight delay in the arrangement of funds and, as a result, there has been some short fall in the pay-in." However he clarified that this is just a delay and not a default in payment.

NSE has already received 50 per cent of its pay-in on Monday as it had pressed brokers to bring funds in advance.