Forward Contracts (Regulation) Amendment Bill likely to be cleared during Monsoon session

MUMBAI: The Forward Contracts (Regulation) Amendment Bill, 2010 is expected to be cleared by the Parliament during the Monsoon session.

Already, the FCR Bill has been cleared by the department related Standing Committee and could be passed.

Since 1998, the bill to amend the FCRA Act 1952 has been lying in obscurity. It has faced various political opposition.

The bill is focussed to provide sweeping powers to commodity market regulator FMC, which currently functions as a department under the Consumer Affairs Ministry. Besides, it also facilitates institutional participation in commodity futures, which presently attracted by retail interest.