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
Indian American Business Council & Art of Living Host Mega Peace Festival with Sri Sri Ravi Shankar in Chicago
CHICAGO, IL (TIP) : Global Humanitarian spiritual leader Sri Sri Ravi Shankar led the convergence of large gathering ‘I Stand for Peace’ – a Peace Festival in Chicago that attracted a large attendance including ranking […]
India
Tainted Bihar minister Mewalal Chaudhary quits hours after taking charge
Patna (TIP): Bihar Education Minister Mewalal Chaudhary on Thursday, Nov 19, resigned from the post after being slammed for corruption charges. Mewalal Chaudhary has been facing flak from the opposition parties, especially the RJD, ever […]
Health
Orange juice helps fight inflammation and oxidative stress in adults, says study
A new study has suggested 100 per cent orange juice has the potential to help fight inflammation and oxidative stress in adults. The findings of the study were published in the journal ‘Advances in Nutrition’. […]
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