SEBI to launch exchange traded interest rate futures soon: Bhave

Mumbai: Close on the heels of the introduction of exchange traded currency futures in the country, market regulator Securities and Exchange Board of India (SEBI) is planning the introduction of exchange traded interest rate futures and rupee-yen and rupee-euro futures to expand the derivatives market.

SEBI is also looking into the issue of whether or not non-resident Indians (NRIs) and FIIs should be allowed in currency futures trade.
 
The regulator is also studying options to allow foreign companies to raise funds in India and get listed. SEBI also has sought disclosure of the status of all pending open offer applications by companies.

Reports quoting SEBI chairman CB Bhave said the interest rate futures will be launched soon.

''We are studying whether to allow NRIs and FIIs to participate in currency futures. We are also studying other currency contracts like a rupee-euro or a rupee-yen to be introduced. We are studying to allow foreign companies to raise money in India and list in Indian stock exchanges,''  Bhave told CNBC TV18 in an interview.

While there is a need to make progress in terms of satisfying all aspects of market, Bhave said, that all the listed companies will have to follow Sebi norms even if the new Companies Bill proposes 33 per cent independent directors.

Bhave said SEBI will soon finalise the terms and conditions on which the small and medium enterprises exchange will be formed very soon.