FTIL stock on Thursday fell by over 60 per cent in early morning trade, while that of Multi Commodity Exchange plunged by 20 per cent following concerns about another group entity National Spot Exchange Ltd.
Crisis-hit National Spot Exchange Ltd (NSEL) on Tuesday failed to pay investors any of the Rs 174.72 crore (Rs 1.74 billion) installment due to them, defaulting for the 13th straight time.
The RBI view comes within a fortnight of the sectoral regulator FMC in a report stating that the promoter Shah and promoter company Financial Technologies are not eligible to run the crippled exchange, an order challenged by the group in the Bombay High Court.
Leading global provider of banking, insurance and financial technology solutions, Polaris Software Lab Ltd on Monday said UK-based Llyods TSB has selected its 'Intellect Suite' as the banking solution for the international cash management offering.
The cash segment turnover at MCX-SX sharply fell to Rs 624 crore (Rs 6.24 billion) in November from Rs 1,119 crore (Rs 11.19 billion) in October, 2013.
Fin Tech raises Rs 450 cr through FCCBs.
The deal values DGCX, which started operations one and a half years ago, at a whopping $1.25 billion.
Shah and Javalgekar were arrested on May 7.
Dubai Gold and Commodities Exchange, the world's newest commodities exchange and the first such marketplace in the Middle East, started trading this morning.
In a fresh development in NSEL's Rs 5,600 crore scam, the Enforcement Directorate (ED) on Monday registered a preliminary inquiry into the payment crisis, suspecting large-scale money laundering in the beleaguered spot exchange, a senior official said.
Real estate is a major asset in India and it will be a "big scene" in the next 20-30 years, says investment guru Marc Faber.
Interoperability with other insurance companies - apart from banks, medical centres, among others - would be the eventual goal
The exchange also asked traders to square off their trading positions in three contracts -- gold February 2015, kapas March 2015 and kapas April 2015.
The Dubai Gold and Commodities Exchange, set up by Dubai and two partners from India and the first electronic multi-commodity derivatives exchange in the Middle East, will commence trading in November this year in precious metals contracts.
Crisis-ridden bourse NSEL defaulted for the 12th straight time today as it could pay only Rs 11 crore to investors against a scheduled payment amount of Rs 174.72 crore (Rs 1.74 billion).
Leading stock exchanges BSE and NSE have barred three entities from trading on their platform after they defaulted on dues in connection with Rs 5,600 crore (Rs 56 billion) payment crisis at National Spot Exchange Ltd (NSEL).
Crisis-ridden bourse NSEL defaulted for the 11th straight time on Tuesday as it could pay only Rs 29 crore to investors against a scheduled payment amount of Rs 174.72 crore.
The Enforcement Directorate on Friday arrested the CEO of a defaulting firm on money laundering charge in connection with its probe in the National Spot Exchange Limited scam case.
This is Ivanka Trump's first big solo outing on the international stage.
The investigators have already served summons to Shah and others directing them to appear before them for questioning.
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Financial Technologies (India), has made a loan of Rs 225 crore to NSEL.
The latest attachment order was issued by the central probe agency against Ms PD Agroprocessors Pvt Ltd, one the defaulters at the bourse.
Weakness in Infosys, L&T and Hindalco cap index gains.
New entity is likely to get a top-up of $200 million from a Chinese investor
US-based enterprise software majors Financial Technologies International and TCG Software Services Inc would invest $20 million in India in the next four years.
This is the second such notice to the spot commodity exchange promoted by Financial Technologies India Ltd. A similar notice had been issued to the NSEL by the Consumer Affairs Ministry in 2012.
The Securities and Exchange Board of India will introduce marketwide straight through processing (STP) system for institutional transactions by July 1 to further reduce cost and time for capital market deals.
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The government asked the NSEL to become a responsible guarantor to the Rs 5,600-crore (Rs 56-billion) dues to investors and meet its commitments.
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Ledger entries in NSEL books show no record of T+2 leg of the paired trades with borrowers.
Private banks and start-ups offer instant loans on apps as well as through ATMs.
Board to ask National Securities Depository to unfreeze 5% of FTIL's stake.
Benefits of demonetisation come at a heavy price for Fintech firms. They will spend a massive amount on securing and reinforcing their cyber security apparatus this financial year. Karan Choudhury reports.
Crisis-ridden bourse NSEL paid about Rs 9 crore (Rs 90 million) against the scheduled payment amount of Rs 174.72 crore (Rs 1.74 billion), defaulting for the 17th straight time.
The Mumbai Police, probing the Rs 5,600-crore (Rs 56 billion) scam at the National Spot Exchange has initiated the process of attaching about 25 immovable assets of the borrowers and has shortlisted nearly 100 properties of all the accused in the case, a senior police official said.
Sensex gained over 100 points and ended at 26147.33 while the Nifty ended 27 points higher at 7,795.75.
Invests $50 mn in 11 entities in just over a year, commits $25 mn more; prefers putting money in firms trying to solve India-specific problems
In the last three financial years and in the current financial year till November 15, SFIO was asked to investigate 167 cases.
FTIL prepares to challenge the order in the Bombay high court
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