In the wake of the fresh round of COVID-19 related restrictions announced by the Maharashtra government on April 4th, 2021, the Commodity Participants Association of India (CPAI) – which is the PAN India apex association of stock and commodity brokers – has written to Maharashtra government to classify stock and commodity broking under “essential services.” This request is particularly in the view that the government has allowed both the leading stock exchanges – NSE and BSE— to remain operational and to ensure smooth functioning of the exchanges, undisrupted broking services must also be facilitated.
Recognising
the importance of Capital markets in ensuring the nation’s economic
stability, the Maharashtra was amongst the first states to have brought stock broking, along with depositories and mutual funds, under essential services during the nation-wide lockdown imposed in March 2020.
Urging
the Maharashtra government to provide similar reliefs during the fresh round of
restrictions, Mr. Narinder Wadhwa, President, CPAI, said: “On behalf of
CPAI, it’s our earnest request to the Maharashtra government to issue necessary
clarifications to exempt employees working in broking offices from any curbs on
their movement. This is to ensure smooth operations and functioning of the
broking offices as without the support of the broking industry, exchanges
cannot operate.” He also assured the government of all the necessary support
and full compliance with all other guidelines.
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