India, Dec. 16 -- National Commodity & Derivatives Exchange Ltd (NCDEX) on Monday said it has received in-principle approval from the Securities and Exchange Board of India (Sebi) to roll out a mutual fund transaction platform, a key step ahead of its proposed entry into equity trading.
The platform will enable investors to subscribe to and redeem mutual fund units, with clearing and settlement to be undertaken by National Commodity Clearing Ltd (NCCL), a wholly owned subsidiary of NCDEX, the exchange said in a statement.
"Mutual funds are among the simplest and safest entry points for new investors, and we believe this is where Bharat's equity journey truly begins," said Arun Raste, Managing Director and Chief Executive of NCDEX.
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