HDFC Mutual Fund has withdrawn its proposed Gold-Silver Passive Fund of Fund NFO, citing concerns over rising precious metal imports and their impact on India’s trade balance. This decision follows Prime Minister Modi’s appeal to curb gold and silver purchases and a significant increase in import duties, aiming to conserve foreign exchange reserves amidst global economic uncertainty.
Sebi proposes major overhaul of derivatives rules to simplify compliance for exchanges
India’s market regulator Sebi is proposing significant changes to derivatives trading rules. The aim is to make compliance easier for stock exchanges and clearing corporations.