Calcutta Stock Exchange asks SEBI to pause exit application
Business
The Calcutta Stock Exchange (CSE) has asked SEBI to hit pause on its exit application, after the West Bengal government suggested bringing the 118-year-old exchange back to life in its budget.
Deepankar Bose, CSE's public interest director, shared that a letter was sent last week asking SEBI to keep things on hold for now.
CSE board must pass fresh resolution
To officially pull back the exit request, CSE's board needs to pass a fresh resolution.
Even if that happens, restarting the exchange won't be easy. There are big regulatory and tech hurdles ahead.
About 20 regional stock exchanges have voluntarily exited the stock trading business over the past decade under Sebi's exit framework introduced in 2012, so reviving CSE will take some serious effort.