The department of consumer affairs is expected to give final approval over the next few weeks.
The Rs 900-crore Religare, promoted by Malvinder Singh and Shivinder Singh, former co-owners of Indian drug company Ranbaxy, has also reportedly held preliminary discussions on an investment in a commodity exchange as part of the finance company's footprint in the sector.
Long overshadowed by the attention-grabbing Bombay Stock Exchange and National Stock Exchange, India's commodity futures business
