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Budget Online : P Chidambaram inaugurated the NSE Currency Future

admin August 31st, 2008

Finance Minister P Chidambaram inaugurated the NSE Currency Future on Friday. Nearly 300 members, including 10 banks, have enrolled for it. The selected banks require to be profitable for the last three years and have a net worth of a minimum of Rs 500 crore. The banks should also have a minimum of 10% CRAR (Capital-to-risk-weighted Assets Ratio) and net NPAs (Non Performing Assets) not more than 3%.

Nearly 70,000 currency contracts were traded on the National Stock Exchange on Friday, the first day of trading in currency futures.

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