SEBI’s Board on Tuesday cleared a proposal for setting up a gold exchange wherein the yellow metal will be traded in the form of electronic gold receipts and the bourse will help in having a transparent domestic spot price discovery mechanism. The instruments representing gold will be called Electronic Gold Receipts (EGRs) and will be notified as securities, SEBI Chairman Ajay Tyagi said at a press conference after the Board meeting. “EGRs will have the trading, clearing and settlement features akin to any other securities,” he said.Any recognised stock exchange, existing as well as new, can launch trading in EGRs in a separate segment. The denomination for trading of EGR and conversion of EGR into gold can be decided by the stock exchanges with the approval of SEBI.
Indian Americans
Two Indian American IITians named PanIIT Institute Life Fellows
NEW YORK (TIP): Two Indian Americans, Sanjiv Goyal, IIT Delhi, and Sunil Hali, IIT Roorkee, are among four eminent IITians given IIT Alumni Council’s Life Fellowship of the PanIIT Institute initiative for their contribution to […]
India
Google Station will bring pubic Wi-Fi to schools, Malls, and other paces in India
MUMBAI (TIP): Google, a unit of Alphabet Inc., said on Tuesday, September 27, it launched Google Station in India, a service that aims to deepen its reach across the country, as the search giant seeks […]
Asia
Bangladesh dengue deaths top 1,000 in worst outbreak on record
DHAKA (TIP): More than 1,000 people in Bangladesh have died of dengue fever this year, the country’s worst recorded outbreak of the mosquito-borne disease, which is increasing in frequency due to climate change. Dengue is […]
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