The current crisis is a good trigger for merging the four smaller futures comexes and integrating the spot and futures marketsAlthough everybody is busy trying to unravel the crisis on the National Spot Exchange Ltd (NSEL), another core issue may be waiting in the wings. India has six commodity futures exchanges (comexes). The Multi Commodity Exchange of India (MCX) is the dominant player with a nearly 85 per cent market share, followed by National Commodity & Derivatives Exchange (NCDEX) with approximately 10 per cent. The remaining 5 per cent market share is divided among four others: National Multi Commodity Exchange, Indian Commodity Exchange, Ace and Universal Commodity Exchange.Having two dominant players commanding 95 per cent of the market is tough for any newcomer in any field. More so in a market that is regulated, so introducing product innovations and differentiation is difficult, and the first-mover advantage is probably non-existent. Getting liquidity from other excha

Rajnikant Patel: The NSEL effect - A case for 'Indocom'

Business Standard

By operating on the outer edges of the financial regulatory system the serial payment defaults were inevitable. The time has come to equate spot exchanges with stock exchanges and commodity futures exchanges

NSEL: Chronicle of a crisis foretold

Gurugram (Haryana) [India], December 12: Navanc, a pioneering FinTech startup building India's first AI-powered property score and stack for secured lending and insurance practices, has successfully raised USD 1 million in a seed funding round. The round was led by Prarambh Ventures, with participation from Inflection Point Ventures (IPV), Brigade REAP FirstPort Capital, and marquee angel investors

Navanc Raises Seed Funding to Revolutionize Secured Lending with AI-powered Property Score

New Delhi [India], December 12: President of the Russian Federation Vladimir Putin met with Indian Prime Minister Narendra Modi in New Delhi on December 6, 2021.The outcome of the 21st Russian-Indian summit was the adoption of the Joint Statement "Russia-India: Partnership for Peace, Progress and Prosperity", which defined the main points of contact and ways of further development of relations between the two countries in the field of politics and strategic planning, space, economics, energy, agriculture, tourism, education, military-technical cooperation, and security, science, culture and humanitarian interaction.

Rector of Mari State University gave a lecture on Russian-Indian relations for foreign and Russian students

Dubai [UAE], December 12: The Real Kabaddi League (RKL), known for redefining grassroots sports in India, is set to captivate the Gulf region with an exhilarating Kabaddi exhibition match at Al Ahli Sports Club, Dubai, at 6 PM onwards. This highly anticipated event will feature two specially created dummy teams--Indian Warriors and Gulf Gladiators, showcasing raw and emerging talent on an international platform.

Dubai Welcomes Kabaddi with a Spectacular Exhibition Match

Guarantees for overseas units nosedived to $568.9 million in November 2024, compared with $2.78 billion a year ago and $1.35 billion in October 2024, RBI data showed

New Delhi [India], December 12: The corporate world is undergoing a rapid transformation, driven by technological advancements, globalisation, and shifting workforce demographics. The evolution of Human Resource practices is critical in adapting to this dynamic landscape, playing a pivotal role in shaping the future of work. In recent years, HR practices have transitioned from merely focusing on administrative functions to prioritising employee experience. Modern day HR experts act as a business partner, develop deep business acumen, and embody roles beyond administration, serving as an emotional anchor, counsellor, and conscience keeper.

The future of HR lies in Business Acumen and Strategic Partnership with Executives: Tabrez Khan, Bira91

News updates: Catch all the latest news updates from around the world here

Jagdeep Dhankar, jagdeep, Vice President

The new system will introduce dedicated PF withdrawal cards, functioning like regular bank ATM cards

ATM, Money, Transaction

Markets Live: Indian markets are likely to be driven by the higher close on the Wall Street, after largely in-line retail inflation data there cemented hopes of a rate cut by the US Fed next week

Stock market

Mid, SmallCap stocks to buy: Analysts suggest investors buy only those stocks of those companies where there is earnings visibility for at least a few quarters

Market, BSE, NSE, NIfty, Stock Market, investment

HDFC Bank said that it will take necessary steps to address the concerns and directives mentioned in the letter

HDFC Bank

Shaktikanta Das will demit the office on Tuesday after completing six years as the 25th Governor of the Reserve Bank of India.
Revenue Secretary Sanjay Malhotra will replace him as the 26th Governor.
He was appointed as the Governor on December 12, 2018, after the abrupt exit of Urjit Patel.
Das has been twice ranked as the top central banker by the US-based Global Finance magazine.
He chaired his last meeting of the rate-setting panel -- Monetary Policy Committee (MPC) -- last week.
"In the last few years, we have traversed one of the most difficult periods in the history of the Indian economy, and perhaps, in the global economy also. It was a period of relentless turbulence and jolts.
"As a country, we can derive satisfaction that the Indian economy has not just navigated this period of trials successfully but also emerged stronger. As we strive together towards making India a developed economy, I recall what I had said in my statement of February 8, 2023, wherein I had quoted 

Shaktikanta Das, Shaktikanta, RBI Governor

Omnicom is buying Interpublic Group in a stock-for-stock deal that will create an advertising powerhouse with combined annual revenue of almost USD 26 billion.
Shareholders of The Interpublic Group of Companies Inc. will receive 0.344 Omnicom shares for each share of Interpublic common stock that they own. Omnicom shareholders will own 60.6 per cent of the combined company and Interpublic shareholders will own 39.4 per cent after the transaction is complete.
The combined company will keep the Omnicom name and trade under the OMC ticker symbol on the New York Stock Exchange.
The deal is expected to have annual cost savings of USD 750 million.
The transaction is targeted to close during the second half of next year. It still needs the approval of Omnicom and Interpublic shareholders.
Shares of Interpublic jumped more than 15 per cent before the market open on Monday, while Omnicom's stock fell more than 2 per cent.

omnicon

Indian challenger D Gukesh lost the 12th game against defending champion Ding Liren of China to allow his opponent bounce back and level the World Chess Championship match on six points each here on Monday.
The 18-year-old Gukesh was ahead by one point after he notched his second win of the match on Sunday, which came after seven consecutive draws, but Liren's win on Monday brought the things on an even keel.
The two players are now tied at 6 points each with just two games left in the 14-round classical format match, still shy of 1.5 points in order to win the title.
If a tied result happens after 14 rounds, there will be games under faster time control to determine the winner.
The remaining two games will be played on Wednesday and Thursday, after rest day on Tuesday.
The 32-year-old Liren had won the opening game before Gukesh emerged victorious in the third game. The second, and the fourth to 10th games were drawn.

D Gukesh, Gukesh

Up to 6 per cent of all calls, 2 per cent of SMS noted as spam on the Airtel network

Suspected Spam

The Supreme Court on Monday directed the Manipur government to submit a detailed sealed cover report on the number of properties that were fully or partially burnt, looted, or encroached upon during the ongoing ethnic violence in the state.
The bench comprising Chief Justice Sanjiv Khanna and Justice Sanjay Kumar emphasised the need for the state to address the grievances of the displaced persons and take steps to restore their properties.
It therefore asked the Manipur government, represented by Solicitor General Tushar Mehta, to provide specific details such as buildings burnt or partially burnt, buildings looted, buildings trespassed or encroached upon.
The report should also provide information about the owners and current occupants of these properties, along with the details of any legal actions taken against trespassers, the CJI said.
"We also direct the state government to provide the following details: 1. Buildings burnt and partially burnt, 2. buildings which are looted; a

Manipur violence

Highlighting the historical presence of Hindus in Bangladesh, stating, "We are vanished from Afghanistan. We are vanished from Pakistan. This is the high time. If we are not saved now, we will be

Protest, Delhi Protest, Bangladesh Protest, Hindu Protest

Despite the growth slowdown, a rate cut-cycle is unlikely to start anytime soon

Policy

The Massachusetts Institute of Technology alleges that the essay, titled 'On Pacifism', could be interpreted as encouraging violent protests on campus

MIT University

In the absence of meaningful private investment and job creation, India is slipping back into its pre-Covid-19 rut, and its economic czars are once again publicly refusing to acknowledge the slowdown

Gold

Sitharaman said that intergenerational debt is mounting on countries, and it is important for the government and industry to work together to manage debt at the national and sub-national levels

Rajnikant Patel

Rajnikant Patel

Rajnikant Patel

Rajnikant Patel: The NSEL effect - A case for 'Indocom'

NSEL: Chronicle of a crisis foretold

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Navanc Raises Seed Funding to Revolutionize Secured Lending with AI-powered Property Score

Rector of Mari State University gave a lecture on Russian-Indian relations for foreign and Russian students

Dubai Welcomes Kabaddi with a Spectacular Exhibition Match

India's outward FDI halves to $2.28 billion in November, shows RBI data

The future of HR lies in Business Acumen and Strategic Partnership with Executives: Tabrez Khan, Bira91

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