The central bank increased its short dollar forward positions by $6 billion in September, marking the first rise in six months. This marks an important move by the central bank when the Indian rupee has been depreciating sharply and support was needed without reducing the forex reserves. Usually, forward position by the RBI helps the currency to cool off a bit.
All recognised associations under the Forward Contracts (Regulation) Act, 1952 are deemed to be stock exchanges under the Securities Contracts (Regulation) Act, 1956, with effect from September 28, 2015, the day when merger of commodity markets regulator FMC with Sebi became effective.
Founder of Financial Technologies, Jignesh Shah said that it could take about five months for investors awaiting payout on the National Spot Exchange Limited (NSEL) to get their money.
CNBC-TV18's Siddharth Zarabi, quoting sources, throws light on the possible timeframe for the government and the Reserve Bank of India to start issuing new bank licenses.
On a day when the rupee hit a fresh all time low, the RBI met exporters and bankers to seek ways to speed up credit flow to the sector.