The RBI is considering permitting FII and commercial banks to trade on Indian commodity exchanges.
MCX Stock Exchange, set up by crisis-hit NSEL's promoters, on Friday appointed Saurabh Sarkar as CEO and announced plans for fresh capital infusion by its existing shareholders among measures to boost business.
As economic policy making moves from pragmatism to populism, the bulls begin to make way for cautious optimists.
The aggrieved investors of National Spot Exchange (NSEL) have moved the Securities and Exchange Board of India (Sebi) against Financial Technologies (FTIL), the listed promoter.
Investors will get the money directly in their demat accounts or through their brokers. They won't get physical delivery any more.
Largest bidder says FTIL not following correct process and MCX not extending cooperation; FTIL and MCX say cooperating fully
Preliminary investigations conducted by capital markets regulator Securities and Exchange Board of India and inputs from other regulators and government departments suggest that some brokers were offering structured financial products to their HNI clients under some portfolio investments schemes for high returns of 10-20 per cent.
About Rs 5,600 crore (Rs 56 billion) of investments of some 13,000 investors are stuck in NSEL. Despite reports from several internal committees of regulators and investigative agencies pointing to fraudulent activities, there hasn't been any substantial enforcement action against the exchange or the officials.
FMC approves commodity bourse's contract-launch calendar for two years.
Investigation to be over by weekend, Mumbai police EOW to lodge FIR thereafter.
A major payment crisis involving Rs 5,600 crore (Rs 56 billion) broke out at National Spot Exchange last year.
After defaulting for a consecutive time in paying its investors, National Spot Exchange Ltd (NSEL) got a Rs 177-crore (Rs 1.77 billion) lifeline from its main promoter, Jignesh Shah-run Financial Technologies.
The recent NSEL crisis has prompted even rich and diehard equity investors to shift to safer fixed income products.
A Delhi University alumnus with an MBA in finance and a doctorate, Vaish started his career as a banker in 1984, became an academician a few years later and joined the capital market in 1998.
Sebi on April 4 gave the brokerages 60 days to have their books vetted by third-party auditors.
New FMC directives for MDs & CEOs; regulator also wants half the directors on commodity exchange boards to be independent.
Though they have more than one legal option to recover dues, till NSEL has funds, little can be done.
The Ministry's decision comes more than a year after the payment scam at NSEL came into light in July 2013.
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.
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
Jignesh Shah, the promoter of National Spot Exchange Ltd (NSEL), and its former CEO Anjani Sinha on Friday traded charges in connection with the multi-crore payment crisis at the crippled bourse which has affected over 13,000 investors.
Department seeks investor database on the suspicion of fictitious investors.
If at all it was some great strategy, the delay has only helped the person they eventually arrested.
The main losers on the Sensex were Tata Steel, Hero Moto, BHEL, ONGC & Maruti Suzuki.
In yet another setback to it, the National Spot Exchange Ltd on Monday saw non-executive chairman Shankarlal Guru and another director quit, blaming 'bad people' in the management team for the crisis at NSEL.
National Spot Exchange data shows huge amount of wool going out of its warehouse, but a visit to the storage reveals a different picture.
Hearing an appeal against the market regulator's denial of information sought through Right to Information Act, the Appellate Authority has ruled the process relating to grant of recognition of MCX-SX in 2008 has been completed.
A more informed electorate, rather than the Lokpal, can fight corruption better, argues Neeta Kolhatkar.
The stock market watchdog had said any adverse findings by other regulators might have a bearing on the exchange.
Exchange used new investors' money to pay returns to old ones, finds FMC's forensic audit.
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Ledger entries in NSEL books show no record of T+2 leg of the paired trades with borrowers.
Against varying claims its SGF ranged from Rs 839 crore (Rs 8.39 billion) to Rs 62 crore (Rs 620 million), between July 29 and August 14, the bourse had Rs 84.66 lakh (Rs 8.46 million) in the actual SGF.
Brokers have only kept guarantees for which they have open positions.
Despite the low prices, commodities are risky investments
Kotak Mahindra Bank has decided to buy a 15 per cent stake in Multi Commodity Exchange (MCX) for Rs 459 crore from Financial Technologies India (FTIL).
Exchange to reply to FMC's letter soon, CEO says buyers can't be declared defaulters where there is 'market disruption'.
They induced HNIs to trade on spot market commodity exchange with promise of high returns.
FTIL prepares to challenge the order in the Bombay high court
Chary also says some government officials have played an important role in favouring organisations that MCX competes with.
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