Allow FIs and FIIs in commodity market

By agencies   |   Friday, 28 October 2005, 07:00 Hrs
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NEW DELHI: Industry body Assocham said that the government should immediately allow financial institutions (FIs), foreign institutional investors (FIIs) and mutual funds to take part in commodity trading. It is essential for the overall economic improvements and benefit of the stakeholders involved in the trading, the chamber said in a statement. Assochams President Anil Agarwal said, If FIs and FIIs are allowed to take part in commodity futures, overall trading volumes would go up. The chamber favors strengthening of agricultural credit delivery mechanism with special focus on micro credit system. While pointing out major blockades, it said presence of fragmented and localized cash markets were slowing down pace of economic growth.

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