The exchange has formed a new company -- NCDEX Spot Exchange--and senior officials said bullion will be one of the important products in spot market trading.
Gold future prices sustained upward trend for the fourth straight session by surging Rs 2,048 to hit a fresh record high of Rs 100,000 per 10 grams as investors rushed to safe havens after US President Donald Trump indicated plans to overhaul Federal Reserve amid continuing global trade war jitters. On the Multi Commodity Exchange (MCX), the August delivery contract of the yellow metal bounced by Rs 2,048 or 2.1 per cent to hit a fresh peak of Rs 100,000 per 10 grams in the mid-session trade.
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.
In September 2013, FMC was brought under the Finance Ministry.
Combat units of the Chhattisgarh police's District Reserve Guard (DRG), Special Task Force (STF) and Bastar Fighters were mobilised from different directions in the area on February 7, the official said.
Making a weak opening, shares of FTIL further tanked 45 per cent to Rs 105.5 -- its fresh 52-week low on the BSE.
The visitor returns not just with the jewel-like beauty of the country imprinted on the mind, the body rejuvenated by hot stone massages, but also with the captivating stories and myths that are built into every important structure -- whether a tourist magnet or an off-the-beaten track spot.
Gold prices advanced Rs 700 to reach a new lifetime high of Rs 91,950 per 10 grams in the national capital on Wednesday on the back of continued buying by jewellers ahead of wedding season, according to the All India Sarafa Association. Besides, increased tensions in the Middle East and concerns about the US economic slowdown have kept the demand for safe-haven assets intact.
The interplay between domestic and foreign capital will shape India's equity markets.
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The National Spot Exchange Ltd, promoted by Jignesh Shah-led Financial Technologies, is facing a Rs 5,600-crore (Rs 56-billion) settlement crisis.
'That is why I'm extremely concerned when India says that every terrorist incident in future from Pakistan will be treated as an act of war.'
The Corporate Affairs Ministry's latest move comes in the backdrop of instances of private entities using the word 'National' in their names, including the case of National Spot Exchange Ltd, which is embroiled in a major payment crisis.
Late Jammu and Kashmir Police deputy superintendent Humayun Bhat, who died in a 2023 encounter with terrorists, was posthumously awarded the President's Police Medal for Gallantry for his courageous actions during a 2021 gunfight. Bhat was earlier honored with the Kirti Chakra, the nation's second-highest peacetime gallantry award, for his role in neutralizing a top local commander of the banned Lashkar-e-Taiba (LeT) and a Pakistani terrorist.
The trigger for international gold prices rising to $3,000 per ounce was Germany's upcoming heavy government borrowing.
Gold prices hit a fresh record high of Rs 84,900 per 10 grams in the national capital on Friday, driven by robust domestic demand and strong global cues, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity continued its ascent for the third straight session, jumping by Rs 1,100 to hit a new peak of Rs 84,900 per 10 grams.
In his order, SEBI member dealt with the "fit and proper" criteria of the exchange promoted by Financial Technologies (FT) and Multi Commodity Exchange (MCX) and their founder Jignesh Shah.
The order says he was the 'highest beneficiary' of NSEL fraud and has proven unfit to handle affairs of any exchange.
The bourse had proposed to settle all dues amounting to Rs 5,574.31 crore (Rs 55.74 billion) in 30 weeks, according to a settlement schedule issued by NSEL on August 16.
Jignesh Shah had to give up his MCX cash cow and his personal assets have been attached.
The showcause notice by the Forwards Market Commission to promoters of National Spot Exchange Limited on Friday, including Jignesh Shah, is the culmination of a series of steps by the authorities to tighten the noose around Shah.
Only time will tell, if the 'Shah' of exchanges will walk out of this battlefield unscathed.
Financial Technologies hogged the limelight after the stock plunged 65% today.
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.
This article reviews what happened at NSEL, according to information available in the public domain, and reiterates what could be done to reduce the risk of similar scams.
Visits made by Business Standard to several borrowers in Ludhiana, Panchkula, Delhi, Mumbai, Ahmedabad and Hyderabad found that several borrowing entities have links to real estate.
Visits made by Business Standard to several borrowers in Ludhiana, Panchkula, Delhi, Mumbai, Ahmedabad and Hyderabad found that several borrowing entities have links to real estate.
If at all it was some great strategy, the delay has only helped the person they eventually arrested.
The broader markets were battered heavily. BSE Mid-caps and Small-caps indices fell between 1-2% on the BSE.
In one of the deadliest blows to Naxalites in Chhattisgarh, security forces on Sunday gunned down 31 rebels, including 11 women, in a fierce encounter in the state's Bijapur district, police said.
Shah wants to focus this time on a mentoring role and help youngsters with innovative ideas live their entrepreneurship dreams by providing them a platform for "institutionalisation, globalisation and scaling up" of their ventures.
e-Gold, a product launched by National Spot Exchange Limited has the ideal combination of both the forms -- physical and electronic gold. Here are some enticing reasons why you must buy e-Gold.
These commodities must be purchased in units, where a single unit may be equal to a gram (gold), 100 grams (silver) or a kilogram for the other three commodities. For trading, you must open a separate demat account with a broker registered with NSE.
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.
Olympic bronze-medallists India wasted chances galore to lose 0-2 to world champions Germany in the first hockey Test of the two-match series in New Delhi on Wednesday.
He also said the Forward Contracts (Regulation) Act would be amended to strengthen the regulatory framework of the commodity derivatives market.
India's corporate sector sees big ticket deals in 2013.
The Economic Offences Wing of Mumbai Police on arrested former managing director and chief executive of the beleaguered National Spot Exchange (NSEL) Anjani Sinha.
Crisis-ridden National Spot Exchange on Tuesday sacked its Managing Director and CEO Anjani Sinha and six other top executives on a day it failed to meet the first scheduled repayment to investors.
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.
NSEL, has up to Rs 500 crore (Rs 5 billion) daily turnover in e-golds.
