NEW DELHI, May 31: Markets regulators Sebi today said it has formulated a scheme to spread awareness about commodities derivatives among farmers, manufacturers and cooperative groups.
Under the scheme, eligible entities interested in conducting commodities awareness programmes can approach Sebi for recognition and these entities can impart education in the field of commodity derivatives on topics such as forward or futures contracts, hedging and risks, among others.
“The aim of the scheme is to reach the farmers/ producers, farmers cooperatives/ groups in various parts of the country,” Securities and Exchange Board of India (Sebi) said.
The recognised Commodities Derivatives Trainers (CoTs) are expected to organise programmes in small towns and rural areas in order to provide easy access to farmers as well as their associations; and other stakeholders such as hedgers, traders, processors, exporters, importers and consumers.
Spelling out the eligibility criteria for CoTs, Sebi said that applicants should be a trust, society, company, NGO and institution in the field of education/other developmental/ ancillary activities pertaining to commodity derivatives.
Among other requirements, they need to have a three-year experience in the field of commodity derivatives.
“Applicant is in existence for at least three years at the time of applying to Sebi and has experience of working with the erstwhile Forward Market Commission (FMC)or any Central or state government body etc in the area of education/ other developmental/ ancillary activities pertaining to commodities derivatives,” Sebi said.
Sebi will give recognition to CoTs for a period of one year initially, however, they can apply for renewal upon the expiry of the recognition. (AGENCIES)
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