Thursday, February 1, 2001
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BSE breather for Gujarat investors 

Our Markets Bureau  
Mumbai, Jan 31: The Bombay Stock Exchange (BSE) has taken the initiative to come to the rescue of quake victims and investors in the quake-ravaged state of Gujarat; it has decided to give one extra day for securities pay-in to those investors and also allowed its BOLT network to be used for the help of quake-affected people.

Speaking to The Financial Express, BSE director Himanshu Kazi said, ``Normally the pay-in for securities takes place on Thursdays and the pay-out after one to two days of the pay-in. But looking at the situation in Gujarat, the exchange has decided to give one more day for pay-in to help brokers and investors in the affected parts of the state. ``However, this does not mean that the pay-in has been extended by one day for all. Those who are unaffected will have to deposit their securities as usual on Thursday,'' he added.

The earthquake has resulted in loss of communication between survivors in the state and their relatives worldwide. To establish connectivity between the survivors and their relatives and friends, the BSE has put its national trading network to use by creating a system which will allow the affected people to reach out to their relatives anywhere in the world.

He said the BSE is connected live to their members through the VSAT network in most parts of the state. The exchange has devised an application that would allow members to feed data about survivors along with their messages to their near and dear ones, besides contact information. This information will be dispalyed in the exchange's site www. bseindia.com on real time basis for relatives to know the whereabout of the survivors. Besides this, he said, the BSE has set up a help desk, which will try and call up relatives of survivors to inform about their whereabouts.

Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.

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