Illusion of plenty

Regional Stock Exchanges (RSE) that exist as mere symbols of a bygone era will soon cease to clutter the equity market landscape. The Securities and Exchange Board of India has finally come out with concrete rules to determine if the non-operational exchanges that include 19 RSEs can be allowed to exist. By spelling out these rules, the regulator is only completing the formalities of closing down institutions that are already defunct. Exchanges that do not operate a trading platform or transact business less than Rs 1,000 crore in a year have to now file for de-recognition. 

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