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.
The stock market historically exhibits volatility on Budget day.
Global currency market sentiment is likely to be driven by the US deficit and debt ceiling negotiations, with markets likely to turn more risk averse closer to October 17, the date by which the US Congress must approve raising the country's borrowing limit.
The improvement in the current account deficit is expected to provide a major reprieve to the government and the Reserve Bank of India which have been battling to prop up the rupee.
.jpg)
The partially convertible rupee closed at 63.37/38 per dollar compared with 62.83/84 on Monday. The unit dropped 0.85 per cent on the day, its biggest single-day fall in two weeks.
Slew of resignations at NSEL over past month in the wake of scrutiny; MCX gaps caused by new-age norms for commexes.
.JPG)
The Reserve Bank of India late on Wednesday unveiled rules to restrict how much its citizens and companies can invest abroad and announced additional curbs on gold imports.
Derivatives exchange DGCX started trading futures for the S&P BSE Sensex
Wipro, HCL in race for Sebi's fraud detection system upgrade,
.jpg)
Sentiments turned buoyant after RBI on Monday cut the marginal standing facility rate, at which it lends emergency funds to banks, by 0.5 per cent to 9 per cent with an aim to improve liquidity and boost economic activities.
.jpg)
Analysts worry that without more fundamental reforms, India will struggle to contain its record high current account deficit and hence support the rupee.
Chidambaram on Monday sought to soothe nerves about its external finances by promising to contain the current account deficit at 3.8 percent of gross domestic product this fiscal year with a slew of measures including easing rules for raising loans abroad.
.jpg)
FTIL group is in big trouble after over Rs 5,500 crore payment crisis surfaced at its subsidiary NSEL last year.
.jpg)
The government on Tuesday announced hikes in import duties for gold and silver, but it has yet to unveil other details such as its plan to tax imports of non-essential items.
The rupee had dipped by a massive 67 paise to an all-time closing low of 61.10 against the dollar on Friday.
.jpg)
Policymakers stepped in late Thursday to calm markets.
A major payment crisis involving Rs 5,600 crore (Rs 56 billion) broke out at National Spot Exchange last year.
The Sensex ended up 48 points at 28,386 and the Nifty gained 13 points to close at 8,476.
Department seeks investor database on the suspicion of fictitious investors.
Entities reluctant to get into new segment till settlement and margin issues are addressed
Sebi on April 4 gave the brokerages 60 days to have their books vetted by third-party auditors.
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.
Few top honchos of India Inc did very well in 2014.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances