16 regional SEs defunct

The government said there are about 16 regional bourses, including Delhi Stock Exchange (DSE), in the country are in the defunct state.

Currently, there are 16 bourses which are not operational as they could not have their own trading platform, Minister of State for Finance Namo Narain Meena informed Rajya Sabha.

Ahmedabad Stock Exchange, Bangalore Stock Exchange, Bhubneshwar Stock Exchange, Cochin Stock Exchange, Vadodara Stock Exchange and Delhi Stock Exchange, among others, are not operational.

The Minister also said the market regulator Sebi had laid down policy for in May this year for compulsory de-recognition of such defunct regional stock exchanges.

According to new guidelines, the defunct stock exchanges are allowed to seek voluntary surrender of recognition and exit. The stock exchanges which fail to achieve to maintain an turnover of Rs 1,000 crore would have to close shops within two years of the guidelines issued.