The government of India recently decided to allow Currency Futures in India. In addition to Ministry of Finance which is/are the other organisation(s) whose permission/approval is needed for such operations in India?
(A) International Monetary Fund (IMF)
(B) Reserve Bank of India (RBI)
(C) Securities and Exchange Board of India (SEBI)
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Only (A)
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Only (B)
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Only (C)
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Only (A) and (B)
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Only (B) and (C)
E
Correct answer
Explanation
Currency futures trading in India requires approval from multiple regulators. The Reserve Bank of India (RBI) regulates foreign exchange markets and forex derivatives, while the Securities and Exchange Board of India (SEBI) oversees securities exchanges and trading platforms. The International Monetary Fund (IMF) does not have direct approval authority over domestic financial market operations, as it is an international organization rather than a national regulator.