Regulator asks exchange to clarify details of proposed deal and update on 13 February
Move a part of the government efforts to promote cashless commerce.
NRIs to be allowed to hedge currency risk; banks can dip into reserves for T1 capital.
2017/18 budget also includes measures to ease NPAs, FPI access.
Move aims to ensure market stability amidst potential volatility; budget could rationalise transaction tax.
3-stage framework aims to address possible conflicts as BSE prepares to list on NSE on 3 February.
Banks said to have spent last two months dealing with impact of demonetisation.
Report suggests 78-88% of currency supply will be back in the system within 2 months.
Transaction documents kept on blockchain, reducing need for bank-to-bank reconciliation.
Move aims to further attract investors to stock markets, mutual funds and other investment products.
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