The National Stock Exchange (NSE) today said it will launch interest rate futures (IRF) contracts from August 31.

"The exchange has received approval from Sebi for introducing exchange traded interest rate futures contracts. Trading in IRF shall commence with effect from August 31," the NSE said in a statement.

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With an objective to encourage active participation the exchange has exempted the transaction charge on IRF trades for this year.

"It has been decided that no transaction charges will be levied on trades done in interest rate futures contracts up to December 31," the NSE added.

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