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.
Business & Economics
SpaceX collaborates with GEC to sell space art through cryptocurrency
The announcement of the DOGE-1 mission — a collaboration between Elon Musk’s SpaceX and the futurist Geometric Energy Corporation (GEC) — was hailed as the start of the cryptocurrency space race. Dogecoin, the popular meme […]
Health
How to prevent hair loss
Every strand of hair on your head has a lifespan between about 3 to 5 years. Hair follicles have a cycle of active growth, transition, and rest. Hair loss occurs when your hair’s growth cycle […]
United States
Artificial Intelligence company from Silicon Valley enters Bihar
WASHINGTON, D.C. (TIP): A Silicon Valley-based Artificial Intelligence company has opened an office in Bihar, making it the first IT company from the US to enter the state. Tiger Analytics, headquartered in Santa Clara, has […]
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