NSE meaning in Stock Exchange ?

Answer: What is National Spot Exchange mean?

The National Spot Exchange Limited (NSEL) is India's first spot exchange that was established in view of the then Prime Minister's vision to create a "single market" across the country for both manufactured and agricultural produce. The Economic Survey of 2002-03 of the Government of India also recommended setting up a national-level, integrated market for agricultural products, as did the Planning Commission. This was followed by the Rangarajan Committee, which too sought a national spot market. It is under the ownership of Ministry of Finance, Government of India.

The Government of India granted permission to NSEL along with two other spot exchanges to start operations. The Government of India issued a Gazette Notification dated 5 June 2007 granted general exemption under Section 27 of the Forward Contracts Regulation Act (FCRA.)

NSEL commenced operations providing an electronic trading platform in October 2008 and simultaneously, as many as six state governments issued licenses under the model Agricultural Produce Market Committees (APMC) Act to NSEL.In August 2011, the Forward Markets Commission (FMC) was appointed as the 'designated agency' to regulate these spot exchanges.

reference

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