Securities and Exchange Board of India (Sebi) grants NCDEX in-principle nod for mutual fund platform.

Key facts

• National Commodity & Derivatives Exchange Ltd (NCDEX) has received in-principle approval from Sebi to launch a mutual fund transaction platform.
• The platform will allow investors to subscribe to and redeem mutual fund units, with clearing and settlement handled by National Commodity Clearing Ltd (NCCL), a wholly owned NCDEX subsidiary.
• NCDEX aims to expand financial inclusion through low-denomination systematic investment plans (SIPs) targeting rural and semi-urban areas.
• The mutual fund platform could be rolled out faster than equity trading systems as it operates independently of stock trading infrastructure.