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New Delhi:
Parliament immediately handed a Bill that seeks to supply a authorized framework for bilateral netting of certified monetary contracts.
Lok Sabha had handed the invoice on Sunday.
The laws permits for enforcement of netting for certified monetary contracts.
Finance Minister Nirmala Sitharaman termed the Bill as important for monetary stability within the nation, and stated it brings in a agency authorized foundation for bilateral netting for 2 counter events.
Ms Sitharaman stated: “It is just the bilateral contracts which do not have any firm legal basis. Value of bilateral derivative contracts is estimated by Clearing Corporation of India to be Rs. 56,33,257 crore as of March 2018.”
Bilateral contracts represent 40 per cent of whole monetary contracts whereas multilateral contracts represent 60 per cent, she added.
(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)
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