'Licence Raj' to hit Rubber Futures
CommodityOnline
KOCHI: The Indian Rubber Board's attempt to rein in futures traders with the 'Licence Raj' has drawn flak from commodity exchanges and, it seems, the government authorities and futures managers are having different opinions about the move.
The Rubber Board had recently sent a communication through the Forward Markets Commission (FMC), under which the commodity exchanges function, saying no person could sell or buy rubber except in accordance with the licence issued by it.
However, interpretations vary on this subject. The commodity exchanges say that the board's directive will come into play only when physical delivery of rubber takes place.
NCDEX GOLDINTLJUL2012 30 July 2012
contract was trading at
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