‘To soon take call on e-series payments’

It functioned like the cash segment in equities, but offered commodities in the demat form in smaller denominations.

Commodity markets regulator FMC on Thursday said it will soon take a call on allowing investors to realise their funds in e-series contracts that were offered on the crisis-hit NSEL. Under e-series contracts, retail investors bought and sold commodities in de-materialised form.

It functioned like the cash segment in equities, but offered commodities in the demat form in smaller denominations. “Independent auditor Chokshi & Chokshi has submitted the report on e-series contracts. We are examining it and will soon take a call,” Forward Markets Commission chairman Ramesh Abhishek said.

9 men killed in Chennai construction site had left Assam to build a better life

India2 hr ago

Nine young men from the Dimasa tribe, working at a construction site in Tamil Nadu, were killed when a concrete arch they were working on collapsed. The brothers Provit and Sorbojit Thaosen were among the victims, along with four others from their village. The incident highlights the lack of employment opportunities and low wages that force many from their villages to work as migrant workers.

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