The Securities and Exchange Board of India (Sebi) has recieved proposals from three entities to set up currency futures in the country.
"Three entities have applied to us. They are in different phases of preparing the software and the hardware. We will go and examine them," Sebi Chairman, C B Bhave said today on the sidelines of a function here.
The Sebi has already issued the guidelines for currency futures to be set up in the country.
A currency futures is a foreign exchange contract that allows buying or selling of a currency at a future date on the basis of an exchange rate that is fixed only on the last trading day.