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MCX gets Sebi nod to launch gold options in September
Posted on 12th August 2017
Multi Commodity Exchange (MCX) will launch the country's first gold options contract in September allowing even smaller players in the bullion industry an instrument to hedge their risk, a senior company official told Reuters.

"Somewhere around end September we will launch gold options. We have already conducted mock drills," Murgank Paranjape, managing director of MCX, said on the sidelines of a conference.

The Securities and Exchange Board of India has approved the options contract, he said.

"For years the market has been waiting for options. This will give many small jewellers an opportunity to hedge their risk without worrying about daily volatility," said Prithviraj Kothari, managing director of RiddiSiddhi Bullions Ltd.

India is the world's second-biggest buyer of gold, typically importing around 800 tonnes a year, with the metal being used in everything from investment to religious donations and wedding gifts.

In June, India's markets regulator allowed hedge funds registered as category III Alternative Investment Funds (AIFs) to invest in commodity derivatives as clients, opening up the market to institutional investors for the first time.

Harmony Hedge Fund has started trading on the MCX platform and another 35 hedge funds have approached the exchange for admission, Paranjape said.

Gold options and entry of hedge funds will increase the exchange's turnover in the next fiscal year, Paranjape said.

MCX's total income fell 7.1 percent from a year ago to 872.4 million rupees in the June quarter.

Related Companies: Securities and Exchange Board of India ( SEBI )   

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“We want to target around 5,000 micro-entrepreneurs and spend at least Rs.500 crores in 2018-19,” said P S Jeyakumar, CEO of Bank of Baroda.


IRCTC to charge portals a fee on each ticket’s sale
Posted on 21st July 2018
MUMBAI: In a move that will make purchase of railway tickets from portals such as MakeMyTrip, Yatra, Paytm and Cleartrip more expensive, the Indian Railway Catering and Tourism Corporation (IRCTC) has said it will charge a fee of Rs 12 plus taxes on every ticket booked from service providers.

Sensex snaps two week winning streak, slips 45 points
Posted on 21st July 2018
The benchmark Sensex snapped its two week winning streaks to register small losses by 45.26 points to conclude at 36,496.37, while the broader Nifty managed to maintain the key 11,000-level to close at 11,010.20, losing a marginal 8.70 points.

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New Rs 100 note poses fresh headaches for ATM operators
Posted on 21st July 2018
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Like the new post-demonetisation Rs 2,000, Rs 500, Rs 200 and the new Rs 50 notes and Rs 10 notes, even the new lavender-coloured Rs 100 is a tad smaller in size compared to the blue-coloured Rs 100 notes currently in circulation.


Facebook suspends US-based analytics firm over data concerns
Posted on 21st July 2018
After the Cambridge Analytica data scandal, Facebook has now suspended Boston-based data analytics company Crimson Hexagon over concerns that it harvested users’ data.

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