BSE for 49pc stake in Indian bourses by foreign exchanges

NEW DELHI, May 27 (PTI): The government should allow leading global bourses to hold up to 49 per cent stake in Indian stock exchanges to enhance the competitiveness of domestic capital markets, BSE has said.
The current policy permits foreign bourses to own a maximum of 5 per cent stake in Indian exchanges.
"The current policy on ownership of stock exchanges may be amended to allow for an investment stake of at least 15 per cent (or preferably even 26-49 per cent) for foreign exchanges of international repute, in line with the regulations for Indian exchanges," BSE said.
The recommendation has been made by the BSE in a document to the ministry of finance ahead of the budget in July.