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Written by fe Bureau | Updated: Aug 1 2010, 04:17am hrs
Commexes to abolish sub-broker system

Forward Markets Commission (FMC) has asked commodity bourses to discontinue with the sub-broker system, and allow their members to service their clients only though 'authorised persons'. FMC, which regulates the Indian commodity futures market, has asked exchanges to comply with the directive within 60 days, a circular said on the commission's website.

Monsoon to be better in Aug-Sept

Monsoon rains across the country are expected to be better than earlier forecast for the remaining season but the eastern regions could see deficient falls. Quantitatively, rainfall for the country as a whole during the period August to September is likely to be 107% of long period average, Ajit Tyagi, director general, IMD said.