Q. In India, which of the following is regulated by the Forward Markets Commission? (UPSC Prelims 2010)
Answer: Commodities Futures Trading
Notes: The Forward Markets Commission (FMC) was the regulatory authority for commodity futures trading in India, established under the Forward Contracts (Regulation) Act, 1952. It oversaw 21 commodity exchanges until its merger with SEBI on September 24, 2015. Equity, currency, and interest rate futures fall under SEBI regulation. Post-merger, SEBI now regulates all futures, but FMC's original mandate was exclusively commodities.