SME Times News Bureau | 26 Mar, 2020
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.
