Se Financials

Among the sources of funds, for 1995-96, NSEIL has recorded its reserves and surplus amount at Rs 17.03 crore (up from Rs 0.04 crore in previous year) and a share capital of Rs 25 crore (made up by its institutional promoters contribution). The BSEs reserves and surplus is big in comparison, Rs 79.08 crore, up from previous years Rs 66.93 crore. BSE does not have a share capital since it is only an association.

Very interesting are the figures relating to contribution by brokers (included under Unsecured Loans title by NSEIL). As on March 31 1996, the total of brokers contribution on the BSE was Rs 70.90 crore, while it was much higher at Rs 592.29 crore on the NSE. The BSE defines the components of the contribution amount as entrance fees and admission fees of its corporate and individual members, and NSE bifurcates it as deposits from trading members and deposits from applicants for membership. (During 1995-96, NSE had taken on about 500 new members.)