FIRST EVER INSURANCE COVER FOR BSE TRADE GUARANTEE FUND

The Stock Exchange, Mumbai is pleased to announce that, in order to protect the corpus of its Trade Guarantee Fund, it has obtained an Insurance cover from the New India Assurance Co. Ltd., to the extent of Rs. 60 crores. Any loss upto Rs. 60 crores arising out of members' default in a year would be made good by the Insurance company. During the four years since its inception, the Trade Guarantee Fund has been used only once to the extent of Rs.1.55 crores.

This is yet another Investor friendly measure as it will prevent any major erosion of the Trade Guarantee Fund in case of a default by members.

This is the first ever Insurance cover of its kind provided by the New India Assurance Co. Ltd.