SEBI, vide its Circular No. CIR/CDMRD/DIECE/02/2015 dated November 16, 2015, mandated  Investor  Grievance  Redressal  System  and  Arbitration  Mechanism to National Commodity Derivatives Exchanges (herein after referred to as Exchanges) and  directed exchanges to comply with the provisions of circulars as issued by SEBI in this regard, with effect from April 01, 2016.

In  order  to  further enhance  the  effectiveness  of  grievance  redressal  mechanism  at Market   Infrastructure   Institutions   (MIIs), based   on   the   internal   deliberations, discussions and feedback as received from MIIs, it has been decided to add/ modify certain provisions in the circular.

July 20th, 2017