ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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NSEL Debacle

Functioning in a regulatory vacuum, the National Spot Exchange went ahead and permitted trading in forward contracts and overlooked the need for physical backing of stock as required in spot trade. The result was a ticking time-bomb. Close to Rs 6,000 crore invested by 13,000 investors found its way to a small group of borrowers, most of whom have since defaulted.

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