The Securities and Exchange Board of India (Sebi) has granted approval for the National Stock Exchange of India (NSE) to invest in the proposed National Coal Exchange of India Limited, a significant move towards formalizing coal trading in the country. This initiative will establish a structured platform for electronic spot trading of coal, introducing standardized contracts and transparent price discovery mechanisms. It aligns with the Indian government's broader reforms in the coal sector, including commercial mining and liberalized coal sales. The exchange aims to benefit producers, consumers, and traders by bringing greater transparency and efficiency to traditionally fragmented coal transactions. Additionally, Sebi has revised the 'fit and proper person' framework for market intermediaries, removing automatic disqualifications for mere filing of criminal complaints or charge sheets, while expanding disqualification criteria upon conviction for economic offences. These changes are intended to enhance procedural clarity and fairness within the regulatory process.