BSE slashes deposit for new members by 90%

The Bombay Stock Exchange (BSE) has reduced the membership deposit and fee requirements for new members in its cash and equity derivatives segments with immediate effect.

The membership can now be obtained by paying a deposit of Rs 10 lakh instead of Rs 1 crore (Rs 10 million).

"Through this scheme, we intend to make BSE membership affordable," said Madhu Kannan, managing director & CEO, BSE. "We hope this will generate good response from market participants, while also expanding our existing membership base to promote financial inclusion," he added.