Multiple choice

National Spot Exchange Limited (NSEL) has been in the news for a scam of 5600 crore rupees. Which among the following are the promoters of NSEL?

  1. NSE and Shah Investments

  2. NPCI and Financial Technologies India Ltd

  3. Financial Technologies India Ltd and NAFED

  4. NSDIL and MCX
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

National Spot Exchange Limited (NSEL) was promoted by Financial Technologies India Ltd (FTIL) and NAFED (National Agricultural Cooperative Marketing Federation of India). The Rs 5600 crore scam involved payments crisis in commodity trading. NSE and NPCI (National Payments Corporation of India) are unrelated entities - NSE is the stock exchange and NPCI handles retail payments. NSDIL is also not a promoter of NSEL.

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