The turnover of commodity exchanges in the country dropped by seven per cent to Rs 10,14,845.30 crore (Rs 10,148.45 billion) till July 14 in the current financial year against Rs 10,92,426.40 crore (Rs 10,924.26 billion) in the year-ago period.
The Cabinet Committee of Economic Affairs is all set to announce the guidelines for FDI in commodity exchanges. Following this, the Forward Markets Commission is expected to submit the proposal for ownership structure of exchanges before the Union ministry of consumer affairs.
The turnover of 23 commodity bourses rose by 49.38 per cent to Rs 9,04,686 crore (Rs 9,046.86 billion) in August this year despite low business recorded during the month at the leading exchanges, MCX and NMCE, according to the Forward Markets Commission.
Soon, farmers in India will be equipped to check out the futures prices of commodities in their villages.
Last week, after months of scrutiny, the Forward Markets Commission, the regulator for futures trading in commodities, approved a proposal from state-owned MMTC Ltd and finance-to-real estate group Indiabulls to set up a national multi-commodity exchange.
India is at risk of sustained food price inflation as domestic production of key staples such as wheat and edible oil fails to keep pace with rising demand, according to the country's top official on commodities trading.
India's largest commodity bourse--the Multi Commodity Exchange of India --may soon unveil futures contract in gold coins in an attempt to tap the small retail investors across India.
Voices of concern over cumin seed and pepper delivery and quality standards were aired at a meeting of traders and hedgers called by the Forward Markets Commission.
The National Multi Commodity Exchange is planning to launch turmeric futures of Erode variety soon.
Tech giant Apple on Wednesday said it has slashed its App Store commission by half to 15 per cent for small businesses earning up to $1 million (about Rs 7.4 crore) per year on the platform. In the past, tech majors Apple and Google have been criticised for the high commissions charged from app developers. Apple, in a statement, said the new developer programme will accelerate innovation and help small businesses and independent developers propel their businesses forward with the next generation of groundbreaking apps on the App Store.
In a severe indictment, commodity market regulator FMC has said Jignesh Shah and his firm FTIL are not 'fit and proper' to run any exchange in the country and charged him of being the "highest beneficiary" in the NSEL scam.
'When honest, wealthy people come forward to serve India, people should feel proud and welcome them.'
The higher margins imposed on pepper in the wake of volatiluity in the commodity's prices by the Forward Markets Commission is likely to reduced soon.
The Bombay Stock Exchange is set to pick up 26 per cent stake in India's first demutualised online multi commodity exchange the National Multi-Commodity Exchange.
The turnover of commodity exchanges in 2006-07 financial year is likely to touch a whopping Rs 37 lakh crore (Rs 37 trillion), according to the data from Forward Markets Commission.
The cryptocurrency exchanges in India have got a fresh lease of life following the bull run in Bitcoin, which briefly hit a new all-time high of more than $69,000. Siddharth Sogani, managing director of CREBACO, expects the price to cross $1,00,000 by the end of the year. This will see a sharp reversal in the Indian market, which has largely been dormant since the new tax regime was implemented in 2023.
Live commerce, quick commerce, group buying, WhatsApp commerce, dukaantech have made their mark.
'The expeditious enactment of labour codes and strategic measures to bridge the skills jobs gap are critical.'
The Reserve Bank has asked banks to encourage borrowers to hedge agri-products on commodity bourses.
The securities regulator's approval for the first US-listed exchange traded funds (ETF) to track bitcoin has given Indian cryptocurrency companies hope that the move would create domestic support for the digital assets. The US Securities and Exchange Commission (SEC) on Thursday approved 11 ETFs for bitcoin, perhaps the most popular virtual currency. It would enable investors to access bitcoin without challenges such as setting up wallets or accounts with crypto exchanges that have previously suffered cyberattacks or implosion.
Investigation to be over by weekend, Mumbai police EOW to lodge FIR thereafter.
FMC approves commodity bourse's contract-launch calendar for two years.
Google on Tuesday began reinstating about 250 Indian apps it had delisted from its Play Store over a billing dispute as it caved in to government criticism, but the squabble may not yet be over.
Most of the pharma units are failing in documentation, and validation processes, and many don't have full-fledged quality control laboratories.
Chokshi and Chokshi, which was given December-end deadline to complete the audit of e-series contracts at NSEL, had sought extension to finish the work.
Dabba trades also allow investors to avoid SEBI registration requirements or the margin requirements set by exchanges.
'Commentators have said that dealing with allies as equals will make Modi more sensitive.' 'Remember that the people Modi is dealing with are equally autocratic in their own lairs.' 'Further, Modi always has handy the threat of dissolving Parliament and calling for fresh polls.' 'Most of his own party, and certainly his allies and opponents having blown their budgets of efforts and resources in the just concluded elections, have no stomach for this.' 'They are all greatly looking forward to the loaves and fishes of office on offer.' 'That gives Modi an unbeatable advantage in any push-comes-to-shove situation,' explains Shreekant Sambrani.
The 1MW solar power plant has been set up at an investment of Rs 10.3 crore (Rs 103 million) and was commissioned this month, the company said in statement.
Commodity futures market's dream run came to a halt in 2013 as a Rs 5,600 crore scam in Jignesh Shah-led spot exchange NSEL and imposition of transaction tax on non-farm items hampered the growth of business, with turnover estimated to dip by 30 per cent to Rs 125 lakh crore.
In his first two years, Tyagi, a Himachal Pradesh cadre IAS officer, has implemented challenging stock market reforms and taken action against high-profile corporate entities.
Mergers and acquisitions would continue to create big corporate conglomerates but there is a need to draw a red line to avoid dominance and curbing of open competition in market by them, he said while addressing a conference on competition issues in New Delhi.
FMC has been asked to go ahead with the appointment of 20 experts, which the commission had sought earlier.
Analysis of the 7th Pay Commission's recommendations.
NSEL had earlier suspended trading and merged the settlement cycles of all one-day forward contracts.
After his previous visit, the Sensex crashed and it took four painful years to top the 21,000 mark.
The Economic Offences Wing (EOW) of the Mumbai city police is expected to file a First Information Report (FIR) against Jignesh Shah, promoter of Financial Technologies and vice-chairman of National Spot Exchange (NSEL), and former senior management officials in connection with the current payment crisis.
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