FMC to be transferred from consumer affairs to FinMin soon

The Forward Markets Commission (FMC) which is the regulatory authority of the commodity exchanges in India is likely to come under the Finance Ministry very soon. CNBC-TV18 learns that this transfer is in the final stages.

The department of consumer affairs is currently overseeing FMC and it has referred the file on transfer of FMC to the prime minister's office (PMO). PMO is expected to process this file.

The final notification transferring FMC to North Block will be done through an executive order and is likely to happen soon.

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