Commodities

Commodity traders’ body seeks relief for broking firms

Our Bureau Mumbai | Updated on April 05, 2021

The State brought stockbroking, depositories and mutual funds under essential services during the nation-wide lockdown last year   -  Emmanual Yogini

The Commodity Participants’ Association of India (CPAI) has urged the Maharashtra government to classify stock and commodity broking under “essential services” so that the support work can go on without any hindrance.

In the wake of the fresh round of Covid-19, the Maharashtra government has announced restrictions from April 5.

The State government has allowed both the leading stock exchanges – NSE and BSE – to remain operational and to ensure the smooth functioning of the exchanges, undisrupted broking services must also be facilitated, said the association.

Maharashtra was among the first States to have brought stockbroking, depositories and mutual funds, under essential services during the nation-wide lockdown imposed in March 2020.

Narinder Wadhwa, President, CPAI, said the Maharashtra government should issue necessary clarifications to exempt employees working in broking offices from any curbs on their movement. This will ensure smooth operations and functioning of the broking offices as without their support exchanges cannot operate.

Published on April 05, 2021

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