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.
Indian Americans
Indian American Pentagon Official Kash Patel Files $50 Million Defamation Suit Against CNN
WASHINGTON (TIP): Kash Patel, the highest-ranking Indian American in the Pentagon, has filed a USD 50 million lawsuit against CNN and several of its top reporters for allegedly defaming him by publishing a series of “false […]
NY/NJ/CT
An Interfaith Vaisakhi Parade to spread the message of Humanity, Peace and Love
HICKSVILLE, NY (TIP): A middle aged Sikh priest Bhai Bhupinder Singh, head priest at Gurdwara Shaheedan in Hicksville took an initiative to organize an Interfaith Parade to celebrate the birthday of the Sikhs who are […]
Breaking News
Antony Blinken and Llyod Austin to travel to India for 2 plus 2 ministerial dialogue
WASHINGTON, D.C. (TIP): US Secretary of State Antony Blinken and Defense Secretary Lloyd Austin would be travelling to India for the 2+2 Ministerial Dialogue with their Indian counterparts External Affairs Minister S Jaishankar and Defense […]
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