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It is over a week since the National Stock Exchange (NSE) came to a slow, grinding halt on 24 February 2021 and we are still none the wiser about exactly what transpired that day.
While conspiracy theories on social media and trader networks abound, the market regulator and the Exchange are silent, barring a hasty, and shockingly inaccurate, press release from the Securities and Exchange Board of India (SEBI).
It is finance minister (FM) Nirmala Sitharaman’s statement that has corrected the picture with the admission that ‘interoperability’ between exchanges failed to work (contrary to SEBI’s press release) and that the stoppage of trading was a serious embarrassment.