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.
United States
Federal Brief Filed on Long Island Workplace Discrimination Case Comes Day After Trump Proposes Banning Transgender Military Service Members
LONG ISLAND, NY(TIP): A day after President Trump tweeted remarks calling for a ban on transgender military personnel, calling them both a “burden” and “disruption,” the Department of Justice filed a brief in the U.S. […]
ARTS
NJ TEEN WINS WHARTON AWARD
By Mabel Pais Aadhitya Raam Ashok, high school musician and composer, is one-of-two award recipients from Wharton Arts, the Garden State’s leading performing arts education organization. Aadhitya Raam Ashok of Edison is the winner of […]
United States
AIA Diwali Mela at South Street Seaport draws Thousands
Musical Bonanza and Spectacular Fireworks Enthrall Visitors NEW YORK CITY (TIP): The Association of Indians in America, NY Chapter (AIA-NY) hosted its 30th Annual Deepavali Festival at the South Street Seaport on Sunday October 1st […]
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