The Hindu Business Line : FIIs, banks can soon trade in commodities

Foreign institutional investors (FIIs), banks and mutual funds would shortly be allowed to trade in the commodity futures market, particularly in crude oil and bullion, in an effort to provide a fillip to the growing commodities sector, according to Mr. S. Sundareshan, Chairman, Forward Markets Commission (FMC).

While speaking in the annual conference on `Commodities: Opportunities in Booming Commodities Market' on Thursday by industry chamber Assocham, Mr Sundareshan said the FMC had already received feedback from the Government in this regard.

The Government has agreed to permit FIIs, banks and mutual funds to trade in crude oil and bullion following strong recommendation from FMC as the commodities futures market trade exceeded Rs 21 lakh crore in 2005-06.

More Stories on : Commodity Markets | Foreign Institutional Investors

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