According to officials, after launching sugar successful on its electronic platform, NCDEX Spot has decided to go in for more commodities.
Capital markets regulator Sebi on Tuesday barred five brokerage houses for up to six months from making fresh applications seeking registration as commodity brokers as they failed to meet 'fit and proper' criteria in the NSEL case. The affected brokerage houses include India Infoline Commodities, Anand Rathi Commodities and Geofin Comtrade (banned for 6 months each), and Phillip Commodities and Motilal Oswal Commodities Broker (for 3 months each). "There were enough red flags for a reasonable person to come to conclude that what was being offered as paired contracts on NSEL were not spot contract in commodities," Sebi said in five separate orders.
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.
A soldier of the special forces of the army was killed in an encounter between security forces and terrorists following a search operation in Jammu and Kashmir's Udhampur district on Thursday, officials said. The firing took place in the Dudu-Basantgarh area during a cordon and search operation that was launched based on information about the presence of terrorists. The deceased soldier has been identified as Havaldar Jhantu Ali Sheikh of 6 Para of the Special Forces. The operation was still underway when the last reports came in from the spot, they added. Four suspects were also picked up for the area for questioning. This is the third encounter between terrorists and security forces in Jammu in the past over 24 hours.
As sludge started solidifying inside the Srisailam Left Bank Canal tunnel in Telangana, rescuers are planning to use sniffer dogs to locate those got trapped, District Collector B Santhosh said on Wednesday.
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
My admiration for Russian culture, vision and ambition grew with every step as I clocked the miles, Nitin Sathe tells us after a visit to Moscow and St Petersburg.
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.
A fresh political row has erupted in West Bengal after a person allegedly involved in Bangladesh's August 2024 student protests was found listed as a voter in Kakdwip, triggering sharp Bharatiya Janata Party-Trinamool Congress exchanges over alleged illegal infiltration and manipulation of the voter list in the state.
In September 2013, FMC was brought under the Finance Ministry.
Gold prices inched closer to the psychological mark of Rs 1 lakh per 10 grams as the bullion rates surged Rs 1,650 in the national capital on Monday on weak dollar and uncertainties over US-China trade war driving demand. According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity reached Rs 99,800 per 10 grams on Monday. Its value had declined Rs 20 to close at Rs 98,150 on Friday.
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.
Making a weak opening, shares of FTIL further tanked 45 per cent to Rs 105.5 -- its fresh 52-week low on the BSE.
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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.
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.
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.
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.
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 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 interplay between domestic and foreign capital will shape India's equity markets.
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.
'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 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.
If at all it was some great strategy, the delay has only helped the person they eventually arrested.
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.
The broader markets were battered heavily. BSE Mid-caps and Small-caps indices fell between 1-2% on the BSE.
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.
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.
The trigger for international gold prices rising to $3,000 per ounce was Germany's upcoming heavy government borrowing.
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.
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.
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.
He also said the Forward Contracts (Regulation) Act would be amended to strengthen the regulatory framework of the commodity derivatives market.
