Lockdown: Stock market services declared essential
Mumbai, March 26 (IANS) The Centre has declared services provided by stock markets as essential. According to Sebi, the Home Ministry has issued guidelines to this effect.
“The Order inter alia provides that commercial and private establishment shall be closed down but that the capital and debt market service as notified by the Securities and Exchange Board of India shall be exempted from such closures,” a Sebi notification said.
Commenting on the development, a spokesperson for a leading stock market said: “We are open and have been exempted during this lockdown.”
On its part, the BSE said that it has set up business continuity process offices. It also has a disaster recovery site in Hyderabad which can take over in case of Mumbai computers are not accessible.
“There is a millisecond based synchronization between production and DR site. The BCP and DR sites have been developed under Sebi regulations and have been periodically tested,” a BSE spokesperson said.