INSUBCONTINENT EXCLUSIVE:
New Delhi: Markets watchdog Sebi will levy a nominal regulatory fee of Rs 1 lakh per exchange on turnover arising from agricultural
commodity derivatives, instead of levying charges based on turnover slab rates, a move that is expected to benefit farmers.
The government,
Securities and Exchange Board of India (Sebi) and exchanges are taking various steps to promote agricultural commodity derivative segment so
that the benefits of agricultural commodity derivative are passed on to the farmers and Farmers Producer Organisation (FPOs).
Keeping in
line with these efforts, Sebi board on Tuesday decided that "instead of levying regulatory fee at the prescribed turnover based slab rates,
a nominal regulatory fee at a flat rate of Rs 1 lakh per exchange, would be levied on turnover arising from agricultural commodity
derivatives".
Further, in order to pass on the desired benefits from reduction of regulatory fees, Sebi said that exchanges dealing with
agricultural commodities derivatives will create a separate fund earmarked for the benefit of farmers or FPOs.
Such regulatory fee forgone
by Sebi will be deposited and utilised exclusively for the benefit of farmers and easy participation by them and FPOs in the
agri-derivatives market.
"The necessary guidelines for utilisation of the proposed fund will be issued in due course," Sebi noted.
