Bengal BJP Govt Plans To Revive Defunct Calcutta Stock Exchange
The newly elected Bharatiya Janata Party government in West Bengal has announced plans in its first budget session to revive the Calcutta Stock Exchange. The
The newly elected Bharatiya Janata Party government in West Bengal has announced plans in its first budget session to revive the Calcutta Stock Exchange. The century-old financial institution has not conducted any trading operations since April 2013, when the market regulator suspended its activities over compliance, governance, and technological concerns. Despite facing the possibility of permanent closure, the stock exchange recently witnessed efforts to restart operations, with a delegation meeting the state industry ministry just before the budget.
Traders and the business community are anticipating the revival, which the state government views as crucial for industrial and economic development in the eastern region. The state government plans to support the resumption of trading operations in consultation with the central government and the market regulator. The revival of the stock exchange aligns with the broader vision for regional development, offering potential benefits for investors and helping to centralise financial activities beyond existing major hubs.
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The BriefWire