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.
India
Rajasthan sets Guinness record for world’s largest yoga gathering
JAIPUR(TIP): Rajasthan created, June 21, a world record bringing over a lakh of people together at a yoga session to mark the International Day of Yoga. Two representatives from Guinness World Records, watched as Yoga […]
Featured
Much must change in Kerala
After the devastating floods, Kerala society as a whole now needs to reorient its relationship with nature “Kerala society as a whole now needs to reorient its relationship with nature. However inclusive this development may […]
Indian Americans
Indian American man Srinivasrao Alaparthi sues boat captain and Florida resort owner for wife’s death
NEW JERSEY (TIP): An Indian American man has filed a lawsuit against a boat captain and his resort for negligence that killed his wife and injured their son while parasailing on vacation in Florida, a […]
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