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.
India
Meet the Visionary Social Activist and Real Estate Entrepreneur Nidarshana Gowani
The Kamala Ankibai Ghamandiram Gowani Trust, founded in 1969, is a beacon of hope for social causes under the visionary leadership of Nidarshana Gowani, the Managing Director of Kamala Group of Industries and Trustee of […]
Indian American
Should we Reject Indian-Americans to our legislative bodies?
ARTS
CELEBRATE bergenPAC’S ANNUAL GALA WITH THE ORIGINAL MAGICAL JERSEY BOYS
By Mabel Pais The Bergen Performing Arts Center (bergenPAC) in Englewood, New Jersey, will hold its annual gala, a special evening with Frankie Valli and The Four Seasons on Sunday, October 15 starting at 5:00 […]
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