BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Forward Markets Commission was the regulator for which of the following?

A	Futures market
B	Currency market
C	Commodities futures market
D	Bullion market

Explanation:

Detailed explanation-1: -The correct answer is Commodities Futures Trading. Forward Markets Commission is a regulatory body established in 1953 under the Forward Contracts (Regulation) Act, 1952. The headquarters of the forwarding Markets Commission (FMC) is in Mumbai.

Detailed explanation-2: -Securities and Exchange Board of India (SEBI) regulates the commodity derivatives market in India since September 28, 2015.

Detailed explanation-3: -International. SEBI regulates Commodity Derivative Markets Since September 2015. Prior to that Forward Market commission, Overseen by Ministry of Consumer Affairs regulated Commodities.

Detailed explanation-4: -The functions 0f the Forward Markets Commission are as follows: To advise the Central Government in respect of the recognition or the withdrawal of recognition from any association or in respect of any other matter arising out of the administration of the Forward Contracts (Regulation) Act, 1952.

Detailed explanation-5: -The Commodity Futures Trading Commission is an independent U.S. government agency that regulates the U.S. derivatives markets, including futures, options, and swaps.

There is 1 question to complete.