NSE Secures Approval for National Coal Exchange Initiative
The National Stock Exchange (NSE) has received approval from the Ministry of Corporate Affairs to reserve the name 'National Coal Exchange of India Limited'. NSE plans to establish a wholly-owned subsidiary to launch the exchange, which aims to create a transparent, market-driven trading platform for coal.
- Country:
- India
The National Stock Exchange (NSE) announced on Monday that it has secured approval from the Ministry of Corporate Affairs to reserve the name for the 'National Coal Exchange of India Limited'.
Following its board approval in February, the NSE is set to create a wholly-owned subsidiary for this venture, intended to streamline coal trading in India.
An initial capital of Rs 100 crore has been committed by NSE, which will hold a 60% stake, as the exchange aims to bring transparency and market efficiency to coal trading.
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