Monday, August 3, 1998
Preparing for stock-index futures
The SEBI board has accepted the L C Gupta Committee report on derivatives mainly with the objective of introducing stock-index futures with the stock exchanges as the starting point.
Fema-plus
The Foreign Exchange Regulation Act (Fera) is due to be repealed soon, thus redeeming the promise held out by P Chidambaram in the budget for 1997-98. The act is to be replaced by two legislations to be introduced in parliament today: a bill for the Foreign Exchange Management Act (Fema) and a bill against money laundering.
Mysterious results
The commercial banks have on the whole come out with encouraging results for the quarter. This is a bit of a `mystery'. Banks are usually thought to be a proxy for the economy as a whole, which is why bank scrips closely track the performance of the economy.
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