The Reserve Bank of India is likely to issue guidelines for allowing foreign investors to pick up stake in the country’s commodity exchanges within a fortnight, a top government official said on Thursday.
    “We expect that the RBI will issue necessary guidelines allowing  foreign investment in commodity exchanges in another 15 days,” Consumer Affairs Secretary Yashwant Bhave said.
The RBI guidelines are expected to be similar to those issued for stock exchanges, he added. This means foreign investors like New York Mercantile Stock Exchange will be allowed to buy up to 49 per cent stake in the bourses such as Multi Commodity Exchange and NCDEX.
The apex bank had in December last year allowed foreign investment up to 49 per cent in stock exchanges. While the FDI cap was pegged at 26 per cent, FII’s were allowed to take up to 23 per cent stake. However, individual investor can hold only up to five per cent stake.
Following Goldman Sachs buying 7 per cent stake at NCDEX, commodity regulator Forward Markets Commission had asked all exchanges not to change their shareholding pattern till guidelines were issued.

Stake holders
Apart from ICICI Bank and Goldman Sachs, LIC, NABARD and NSE hold 15 per cent equity each in NCDEX while CRISIL and IFFCO hold 12 per cent stake each. Canara Bank and PNB also hold eight per cent stake each. The commodity exchange MCX can come out with its IPO once RBI issues the guidelines on foreign investment, an  analyst said.