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Report: India may allow bourses to venture into unrelated businesses

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Report: India may allow bourses to venture into unrelated businesses

India's securities regulator may allow local stock exchanges to enter into unrelated businesses as they look for more sources of revenue, The Economic Times reported Dec. 4, citing "two persons close to the development."

The Securities and Exchange Board of India will consider a proposal to allow stock exchanges to venture into other businesses through subsidiaries. Currently, local stock exchanges are only allowed to provide a trading platform and promote clearing corporation and depositories.

In October, the regulator set up a committee under R Gandhi, former deputy governor of the country's central bank, to review regulations for market infrastructure institutions, such as stock exchanges, depositories and clearing corporations, the report said. Stock exchanges recently met with the panel to look at possible changes to market rules.