India News | NSE to Roll Back 6 Pc Hike in Transaction Charges from April 1

New Delhi, Mar 24 (PTI) The National Stock Exchange has decided to roll back the 6 per cent hike in transaction charges in the cash equities market and equity derivatives segments from April 1.

The higher charges were introduced from January 1, 2021, to partly augment NSE Investor Protection Fund Trust (NSE IPFT) corpus in view of certain market exigencies due to broker defaults at that point in time.

Also Read | 5th International Conference of Coalition for Disaster Resilient Infrastructure … – Latest Tweet by DD News.

In a statement on Friday, the bourse said its board of directors, at their meeting on Thursday, decided to roll back the increase of 6 per cent in transaction charges.

With the objective to systematically augment the corpus of NSE IPFT, the exchange would also recalibrate the contribution to NSE IPFT from Rs 0.01 per crore to Rs 10 per crore in the cash equities market and equity futures segments and Rs 0.01 per crore to Rs 50 per crore in equity options segment.

Also Read | PFI Crackdown: NIA Attaches Two Offices of Banned Organisation in Rajasthan Being Used As 'Terror Training Camps'.

"This above reduction in transaction charges partially offset by the recalibration of contribution to NSE IPFT will lead to effective reduction impact on overall transaction charges by around 4 per cent," the statement said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)