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.
Politics
Tulsi Gabbard Called ‘Devil’ By #Republican Opponent and targeted for her Hindu faith
WASHINGTON: Tulsi Gabbard, the first Hindu to be elected to the US Congress, has been targeted for her Hindu faith by her Republican opponent in the Congressional elections, prompting sharp reactions from the Hindu-American community members. […]
Entertainment
Dakota Johnson says bye-bye to her brunette locks
Dakota Johnson is one of the most gorgeous celebrities in Hollywood who is known for her role as Anastasia Steele in the erotic Fifty Shades franchise. The actress is known for her iconic bangs and […]
United States
Is Texas the prime spot for Amazon’s second headquarters? Dallas Mayor says yes, offers incentives
DALLAS, TX (TIP): Dallas Mayor Rawlings is keen to have Amazon set up its HQ 2 in Dallas. He thinks I will be a game changer for Dallas. “We’re going to be as aggressive as […]
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