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).
(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)
