No payment problems says SEBI chief

New Delhi, May 22 (UNI) On a day of meltdown in the stock market when the Sensex finally crashed by 456.84 points after an intra-day jolt of 1112 points, the Securties and Exchange Board of India assured the investors that there are no payment or liquidity problems in the bourses.

''There are absolutely no liquidity problems of any kind'', SEBI Chairman M Damodaran said in a television interview. He advised the investor ''not to fall prey to rumours''.

The SEBI chief said he has spoken to the Bombay Stock Exchange and the Reserve Bank of India and has been assured of the enough liquidity in the marketplace.

Mr Damodaran's assurance came after the panicky investors looked up to the market regulators for consolation after there were reports of margin pressures on the brokers and their clients.

UNI ARB/PC CS RS1721