The finance ministry is likely to lift over a decade-old ban on futures trading in tur, urad and rice as inflationary fears have subsided amid ample supplies of the farm commodities, a government source said. “The (finance) ministry is considering a request from SEBI (Securities and Exchange Board of India) seeking government approval to revive tur, urad and rice futures," the source told Cogencis.The government had banned futures trade in tur and urad in January 2007, following reports that importers were manipulating prices. Two months later, the government also banned futures of rice and wheat and set up a panel to study whether futures trade was responsible for the rise in prices of farm commodities.
Source: Newswire
More will update soon!!
