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Consider the following statements:
1. National Commodities and Derivatives Exchange (NCDEX) deals primarily in agricultural commodities in India.
2. NCDEX is founded by the National Stock Exchange of India and the National Bank for Agricultural and Rural Development.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements:1. National Commodities and Derivati...
Statement 1: National Commodities and Derivatives Exchange (NCDEX) deals primarily in agricultural commodities in India.
Statement 2: NCDEX is founded by the National Stock Exchange of India and the National Bank for Agricultural and Rural Development.
The correct answer is Option C: Both 1 and 2.
Explanation:
- The first statement is correct. The National Commodities and Derivatives Exchange (NCDEX) is a commodity exchange in India that deals primarily in agricultural commodities. It provides a platform for trading various agricultural commodities such as cereals, pulses, oilseeds, spices, metals, etc. It facilitates transparent price discovery and efficient risk management for market participants.
- The second statement is also correct. NCDEX was founded by the National Stock Exchange of India (NSE) and the National Bank for Agricultural and Rural Development (NABARD). NSE is one of the leading stock exchanges in India, while NABARD is a development financial institution that focuses on providing credit and other financial services for the development of agriculture and rural sectors in India. The collaboration between these two institutions led to the establishment of NCDEX with the aim of creating a robust platform for agricultural commodity trading in the country.
To summarize, both statements 1 and 2 are correct. NCDEX is primarily involved in trading agricultural commodities and it was founded by the National Stock Exchange of India and the National Bank for Agricultural and Rural Development.
Statement 2: NCDEX is founded by the National Stock Exchange of India and the National Bank for Agricultural and Rural Development.
The correct answer is Option C: Both 1 and 2.
Explanation:
- The first statement is correct. The National Commodities and Derivatives Exchange (NCDEX) is a commodity exchange in India that deals primarily in agricultural commodities. It provides a platform for trading various agricultural commodities such as cereals, pulses, oilseeds, spices, metals, etc. It facilitates transparent price discovery and efficient risk management for market participants.
- The second statement is also correct. NCDEX was founded by the National Stock Exchange of India (NSE) and the National Bank for Agricultural and Rural Development (NABARD). NSE is one of the leading stock exchanges in India, while NABARD is a development financial institution that focuses on providing credit and other financial services for the development of agriculture and rural sectors in India. The collaboration between these two institutions led to the establishment of NCDEX with the aim of creating a robust platform for agricultural commodity trading in the country.
To summarize, both statements 1 and 2 are correct. NCDEX is primarily involved in trading agricultural commodities and it was founded by the National Stock Exchange of India and the National Bank for Agricultural and Rural Development.
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Consider the following statements:1. National Commodities and Derivatives Exchange (NCDEX) deals primarily in agricultural commodities in India.2. NCDEX is founded by the National Stock Exchange of India and the National Bank for Agricultural and Rural Development.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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