Finance ministry pushes to bring commodities regulator under its wings

The finance ministry raised the pitch on Wednesday for bringing the Forward Market Commission under its purview from the consumer affairs ministry at present.

"We have received a reference on the NSEL issue from the consumer affairs ministry. We are looking into it," said a corporate affairs ministry official. Responding to the demand for a probe by multiple agencies, some of which come under the finance ministry, the ministry said it does not have the power to probe the matter. "What are we going to do? We don't have powers," said a senior finance ministry official.