Multiple choice

The administrative control of Forward Markets Commission (FMC), the chief regulator of Forwards and Futures Commodity Markets in India, has been transferred to the Ministry of Finance from which ministry/department by an order of the Government of India?

  1. Ministry of Commerce

  2. Planning Commission

  3. SEBI

  4. Ministry of Consumer Affairs, Food and Public Distribution

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The Forward Markets Commission (FMC), which regulated India's commodity futures markets, was under the administrative control of the Ministry of Consumer Affairs, Food and Public Distribution. In 2013-2014, the Government of India transferred FMC's control to the Ministry of Finance. Later, in 2015, FMC was merged with SEBI to create a unified regulatory framework for both securities and commodity markets.