Sunday, Oct 21 2018 | Time 01:27 Hrs(IST)
  • Iran rejects US allegation of foreign interference in midterms elections
  • Iran rejects US allegations of foreign interference in midterms elections
  • Iran rejects US allegations of foreign interference in midterms elections
  • International community needs to take concerted action against terrorism: VP
  • BJP hails party victory in local body polls in J&K
Business Economy Share

India’s Ist agri-commodity options in Guar Seed unveiled

India’s Ist agri-commodity options in Guar Seed unveiled

New Delhi, Jan 14 (UNI) Union Finance Minister Arun Jaitley on Sunday launched the country’s first Agri- commodity Options in Guar Seed by NCDEX (National Commodity & Derivatives Exchange) here in the presence of farmers and Farmer Producer Organisations (FPOs) from various states.

Stating that agriculture was a priority sector for Indian economy Mr Jaitley said the government was making efforts to ensure benefits of economic growth reaches all sections of society and particularly the farmers.

He said this unique hedging tool will allow farmers to mitigate their price risk along with taking advantage of upward price movement. “It is first-of-its-kind hedging tool which will prove to be a game changer for the farmers,” he said.

The Finance Minister also launched a mobile application on the occasion where farmers can learn more about agri-options and the commodities market. The instrument designed by NCDEX and approved by the SEBI, is expected to deepen trade in that commodity and will benefit farmers in reaping improved price realisations for their produce, with limited downside risk.

This launch is largely inspired by the fact that Guar Seed is one of the most liquid contracts on the NCDEX platform and a large number of informal trading Centres in some communities of Rajasthan are already involved in some form of informal options trading, a Finance Ministry statement said.

In order to promote awareness around this new agriculture hedging tool, the NCDEX has initiated a series of awareness programmes and trainings across the value chain.

National Commodity & Derivatives Exchange Limited (NCDEX) is an online multi-commodity exchange. The exchange offers future contracts for widest range of benchmark products across agriculture and precious and base metals.


More News

RBI's monetary policy committee highlights inflation spike risk

20 Oct 2018 | 6:29 PM

Mumbai, Oct 20 (UNI) The monetary policy committee of Reserve Bank
of India (RBI) sees a risk of rising headline inflation from high
crude oil prices and a weak rupee, indicating potential rate hikes
ahead, even as it held key rates unchanged at its last meeting.

 Sharesee more..
SBI launches 'SBI Wealth Hub' in Port City of Karnataka

SBI launches 'SBI Wealth Hub' in Port City of Karnataka

20 Oct 2018 | 6:28 PM

Mangaluru, Oct 20 (UNI) State Bank of India (SBI) Chairman Rajnish Kumar launched Bank's Wealth Business Services by launching 'SBI Wealth Hub' in the Port City on Saturday.

 Sharesee more..

RBI raises dissent on proposed payments board control

20 Oct 2018 | 6:27 PM

Mumbai, Oct 20 (UNI) The Reserve Bank of India (RBI) has voiced its
reservations on the report of an inter-ministerial committee which
recommended that the proposed Payments Regulatory Board (PRB) should
be an independent regulator.

 Sharesee more..

Assocham hails RBI' steps to ease liquidity crunch at NBFCs

20 Oct 2018 | 6:25 PM

New Delhi, Oct 20 (UNI) The apex industry body Assocham on Saturday welcomed the Reserve Bank of India (RBI)'s move to incentivise banks to enhance their lending to non-banking finance companies (NBFCs) as a step in the right direction which would enable NBFCs to tackle the liquidity crunch.

 Sharesee more..


20 Oct 2018 | 5:30 PM

Ahmedabad, Oct 20 (UNI) The Ahmedabad Bullion market ruled firm
here today.

 Sharesee more..