National Stock Exchange Current Affairs - 2020
On May 9, 2020, the Union Finance Minister Smt Nirmala Sitaraman launched the INR-USD Futures and Options contracts in the BSE and NSE platforms. They were launched at the GIFT International Financial Service Centre (IFSC) in Gandhinagar, Gujarat through video conference.
The contracts have been launched to increase economic activity and employment in the country. A significant market share of India has moved to other International financial Centres in the last decade. The move will help to bring back those businesses back to India.
In Addition, the world-class business environment at the GIFT IFSC will help to bring in larger global participation.
What is Future and Option?
Future and Options are financial products that allow investors to buy or sell shares at specific price by a specific date.
Options contract give the right to buy or sell the shares at any time till the validity of the contract exists. Under Futures contract, a buyer and seller can buy or sell only on specific future date.
Types of Option
There are two types of Option. The Call Option is used to buy a stock at the strike price and put option is used to sell a stock at a specific price.
Tags: Bombay Stock Exchange • Finance Minister • GIFT city • IFSC • National Stock Exchange
The National Stock Exchange(NSE) has appointed Girish Chandra Chaturvedi as its new chairman. His appointment comes following the approval of markets regulator Securities and Exchange Board of India (SEBI). The NSE chairman was lying vacant since January 2019 when then incumbent Chairman of NSE Ashok Chawla resigned in the middle of charges of corruption in Aircel-Maxis case. The Aircel-Maxis is a case of alleged corruption in grant of Foreign Investment and Promotion Board (FIPB) clearance in Aircel-Maxis deal.
About Girish Chandra Chaturvedi
He is a former bureaucrat who retired from Indian Administrative Services (IAS) in January 2013 as Secretary, Ministry of Petroleum and Natural Gas. He is currently on board of ICICI Bank and member of government appointed board of Infrastructure Leasing and Financial Services Ltd (IL&FS). In past, he has also served as Director (Government Nominee) on Boards of Canara Bank, IDBI Bank Ltd, Bank of Baroda, IDFC Ltd, GIC Re of India, United India Insurance Co. Ltd, Agriculture Insurance Co. of India, New India Assurance Co. Ltd, National Insurance Academy and Institute of Banking Personnel Selection (IBPS).