New Frontiers at Banking Frontiers

Bombay Sugar Merchant's Association (BSMA) President Ashok Jain welcomed the government's decision to ban futures tra(~;ng in sugar. The industry was demanding the ban for the last six months as sugar prices spurted follOWing heavy speculative activity in the market. The asssociation had earliC'r sent letters to the prime minister, agriculture minister and FMC pleading with them about the irregular and improper manner in which the Monthly Sugar Release Mechanism was being implemented resulting in to avoidable volatility in wholesale markets.