The National Spot Exchange Ltd (NSEL), which is facing a crisis in refunding nearly Rs 5,500 crore to its investors, has announced that it would make immediate refunds to small investors.

The Financial Technologies-promoted crisis-hit exchange also announced that the payments to small investors would be outside of its agreed settlement plan.

In a recently released statement, the NSEL said, "Considering the interests of small investors and in good faith, NSEL has decided to make immediate payments without prejudice and these payments will be outside of the agreed settlement plan."

Slightly more than 608 investors, who were to get up to Rs 2 lakh by July 31 this year, will now be refunded 100 per cent of the money; while 6,380 investors, who were to receive Rs 2-10 lakh by July 31, will get 50 per cent of the money.

To enable the troubled exchange to pay off smaller investors, the Financial Technologies has provided it with a bridge loan of Rs 177.23 crore.

The exchange also said in the statement that it would also disburse Rs 12.60 crore under the settlement plan, out of the funds that it recovered from its members with outstanding dues.