(ET)
The Security and Exchange Board of India (SEBI) is unlikely to approve the Multi Commodity Exchange (MCX) and Indian Commodity Exchange’s (ICEX) applications for launching futures contracts in petrol and diesel, sources aware of the development told Moneycontrol.
This is because both petrol and diesel are politically sensitive fuels, given their ability to influence retail and wholesale inflation, sources said. In December last year, both the exchanges had filed applications with SEBI. The capital and commodities market regulator had written to the petroleum ministry seeking an in-principle approval for the contracts, which the ministry had given in May.
