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| Think Tank |
This week we focus on a complete analysis of the
 Banking Industry
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CSE likely to seek NSE membership
Dheer Kothari
Calcutta, Sept 20: The Calcutta Stock Exchange (CSE), which has received a shot in the arm with the interest shown by regional SEs to take up CSE membership, will now study the feasibility of taking up membership of the NSE, president Kamal Parekh said here today. Addressing members of the exchange at the annual general meeting here today, Parekh said he had received suggestions from members for acquiring membership of NSE. "We have not yet formed an opinion and if we find merit in the suggestion we will take up the issue to our board at an appropriate time," he told reporters later.In today's meeting, the exchange administration had to drop an ordinary resolution seeking to constitute a permanent building committee for the proposed stock exchange complex. The president said legal opinion from Khaitan & Co indicated that such a move was permitted under the bye-laws of the exchange and hence had been withdrawn. Parekh pointed out in his address that turnover of the exchange during April-August 1999 wasRs 106393 crore compared to Rs 77570 crore in the corresponding period last year. The average daily turnover had reached Rs 950 crore against Rs 700 crore in the same period last year. The exchange members will vote tomorrow to elect three directors to the governing board out of six candidates in the fray. The newly constituted committee will meet later to elect the president and vice president for 1999-2000. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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