- BSE introduces new derivatives norm
- Budget session to start on 21 February
- Chawla retires as finance secretary
BSE introduces new derivatives norm
All futures and options contracts traded on the two national bourses-- BSE and the National Stock Exchange (NSE)--have been cash settled ever since derivatives were introduced in India
Cash based settlement in the derivatives segment allows an investor to take a bet on a stock or index without taking a position in the cash market.
Budget session to start on 21 February
he budget session of Parliament will begin on 21 February, and the general budget will be presented to Lok Sabha on 28 February.
The session will be in two parts--the first up to 16 March and the second on 421 April, it was officially announced on Monday. The railway budget and the economic survey will be presented to the Lok Sabha on 25 February. The recess between the two parts of the session will be used by departmentally related standing committees of various ministries to scrutinize the budgetary demands for grants.
Chawla retires as finance secretary
Ashok Chawla, who took over as finance secretary during the turbulent times in the aftermath of the global economic downturn more than two years ago, retired on Monday, from service without any successor named for the post.
The government has appointed R. Gopalan, a 1976 batch Indian Administrative Service officer of the Tamil Nadu cadre, as the economic affairs secretary in the finance ministry.
He replaces Chawla, who was also secretary in charge of the department of economic affairs. P
