 "UTI AMC opens 19 branches; new norms for index derivatives kick in on Wed")
UTI Asset Management Company (AMC) opened 19 new branches on Monday to take the total branch count to 209. The new branches have mostly come up in east and northeastern states like Bihar, Odisha, West Bengal, Mizoram, and Assam. “Additionally, six centres in the southern part of India, including Kasaragod in Kerala, Kumbakonam, Dindigul, Thanjavur, and Namakkal in Tamil Nadu; and Nizamabad in Telangana are also being inaugurated," AMC announced.
New norms for index derivatives kick in today
Stock exchanges are bracing for an impact on the turnover in index derivatives as three of the six new norms to curb participation in the futures & options segment come into effect from November 20. Following the mandate for one exchange, one weekly contract, NSE has continued with Nifty contracts while Sensex contracts continue. The minimum contract size will increase from Rs 5 lakh to Rs 15 lakh.