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.
Bollywood
‘Nude’ photograph was morphed, Ranveer Singh tells Mumbai cops
Bollywood actor Ranveer Singh has told the Mumbai police that one of his `nude’ photographs which led to the filing of a case for obscenity against him had been morphed. He denied that this photograph […]
India
Fuel taxes: RBI Guv calls for coordinated Centre-state action
New Delhi (TIP): With fuel prices at a record high across the country, Reserve Bank of India governor Shaktikanta Das on Thursday, February 25, emphasised the need for coordination between the Centre and state governments […]
Comments
Gangs of Punjab: Moosewala’s murder shows gangster culture is thriving
The shocking murder of singer-politician Sidhu Moosewala underscores the impunity with which gangsters have been operating in Punjab in recent years. Some of them have killed their rivals or have been gunned down by cops, […]
Be the first to comment