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Press Trust of India
The International Pepper Exchange in Kochi has enlisted its first registered overseas member almost ten months after the exchange was formally inaugurated. The exchange which is still limping due to its failure to attract foreign members was expecting Reserve Bank of India's clearance for dollar based transactions shortly on the lines of a similar order issued to the International Castor Oil Exchange in Mumbai recently. According to the exchange sources, dollar based transactions would certainly help the exchange to attract more foreign members in the days to come. The sources said the commerce ministry had sanctioned a sum of Rs 10 lakh to the exchange for conducting road shows abroad with view to attracting foreign participation.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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