Sebi proposed as regulator for spot commodity exchanges for gold, metals

Govt agreeable in principle to this suggestion, though Sebi itself is not

Spot commodity exchanges for gold, metals and even energy products like natural gas could see the light of day under the Securities and Exchange Board of India (Sebi) as the regulator.

This has been recommended by a committee on the subject. It was appointed by the finance ministry under NITI Aayog member Ramesh Chand.  The panel also suggests the “existing institutional infrastructure of commodity exchanges may also be utilised, to the extent possible, to create a spot exchange for commodities”.  Regulation for spot commodity exchanges has been a contentious issue for some years. Especially after the National Spot Exchange fiasco,