N V Deshpande suggested that two options could be explored for granting daylight overdrafts.
A daylight overdraft is caused when payments made for securities transfer that have been received by a bank exceed the payments received from securities that have been delivered.
One option offered by Deshpande was to give each player a specific credit limit proportionate to his financial worth, and overdrafts could be allowed upto that limit.
"Secondly, each participant may be allowed to pledge securities to the central bank to secure daylight overdrafts through a simple securities transfer mechanism which incidentally may not be against payment", he added.
