Warehouses: FMC unveils uniform norms 

Warehouses: FMC unveils uniform norms 

FPJ BureauUpdated: Saturday, June 01, 2019, 09:07 AM IST
article-image

New Delhi:  To strengthen warehousing facilities in the commodity futures market, regulator Forward Markets Commission (FMC) has come out with uniform norms for the accreditation of warehousing service providers. The draft rules, on which public comments have been sought by September 15, come in the wake of Rs 5,600 crore payment scam at the National Spot Exchange Ltd (NSEL) that surfaced in July last year, exposing loopholes in the system.  The proposed changes are being made because at present no uniform norms are being followed by national level commodity exchanges for accreditation of warehousing service providers (WSPs).

RECENT STORIES

King Of Crypto In Jail: Sam Bankman-Fried Imprisoned For 25 Years

King Of Crypto In Jail: Sam Bankman-Fried Imprisoned For 25 Years

Skoda Superb Poised For Return To India – Speculated Launch On April 3!

Skoda Superb Poised For Return To India – Speculated Launch On April 3!

MGNREGA Wage Surge: Centre Announces 3-10% Wage Increase For Rural Workers; Haryana Tops At...

MGNREGA Wage Surge: Centre Announces 3-10% Wage Increase For Rural Workers; Haryana Tops At...

Banks To Stay Open On Sunday: Upon Government Request, RBI Asks Lenders To Function On March 31

Banks To Stay Open On Sunday: Upon Government Request, RBI Asks Lenders  To Function On March 31

Stock Market News: Indian Indices To Remain Shut Today On Account Of Good Friday

Stock Market News: Indian Indices To Remain Shut Today On Account Of Good Friday