SEBI asks exchanges dealing in agri-commodity derivatives.

SEBI on Wednesday asked the exchanges dealing with agri-commodity derivatives to create a fund for farmers and FPOs in which the regulatory fee forgone by the regulator would be deposited.

Besides, it has issued framework including action plan and guiding principles for the utilisation of fund.

In September last year, the regulator had decided to levy a nominal fee of Rs 1 lakh per exchange instead of levying charges based on turnover slab rates and proposed to set up a fund with the fee foregone by it.

SEBI on Wednesday said, "It has been decided that the stock exchanges dealing with agricultural commodity derivatives shall create a separate fund earmarked for the benefit of farmers/FPOs (farmers producer organisations) in which the regulatory fee forgone by SEBI shall be deposited." For the fund, SEBI said the exchange needs to draw an action plan for full utilisation of foregone fee in any financial year to be utilised during the succeeding...