The Troubled Rupee
A top official said the government has options to stem a fall in the rupee but did not offer any specifics, turning the focus on the RBI to stem a rout that sent the rupee to record lows. Full Article
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NCDEX Spot Exchange signs pact to develop warehouses
MUMBAI Oct 22 (Reuters) - NCDEX Spot Exchange Ltd (NSEL) has signed an agreement with Maharashtra State Warehousing Corporation (MSWC), and National Collateral Management Services Ltd (NCMSL) to develop high quality warehousing infrastructure in Maharashtra, it said on Wednesday.
NSEL, MSWC, and NCMSL would jointly modernise the operations of mandis under the World Bank-assisted Multi State Agricultural Competitiveness Project (MACP), it said in a statement.
They have also agreed to provide facilities to farmers and traders for screen-based spot trading in agricultural commodities and other value-added services such as storage, grading, packaging, NSEL said.
NCDEX Spot Exchange Ltd is a wholly-owned subsidiary of the National Commodity & Derivatives Exchange Ltd (NCDEX), the second largest commodity exchange. (Reporting by Debiprasad Nayak, editing by Sunil Nair)
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