ANMI: Anmi urges Maharashtra govt to allow stock brokers to travel by local trains

NEW DELHI: Stock brokers’ association Anmi on Tuesday said it has urged the Maharashtra government to allow the staff of stock broking and depository services to travel by local trains. “Stock markets are critical for the economy and as such its various constituents are important financial market institutions. Further, they should be allowed to commute so as to ensure that these establishments function smoothly,” Anmi said in a letter to the Ministry of Transport and Parliamentary Affairs, Maharashtra.

Association of National Exchanges Members of India (Anmi) is a pan-India body comprising around 900 trading members across the country and around 350 broking houses in Mumbai alone.

The stock brokers’ association said that despite the Maharashtra government and Ministry of Home Affairs declaring stock broking and depository services as essential services, the staff were not allowed to commute in local trains.

Given the magnitude and nature of work in the broking industry, the broking houses require their staff in offices to maintain trading services and assist in technological issues, it added.

Stock broking and depository services were declared an essential financial service by the Maharashtra government on April 13, 2021.

Anmi said it is still to receive a response from the state government in this regard and urged it to take swift action.