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.
United States
Senior Friendship Group Chicago Hosts a Dazzling Diwali Celebration
Experience of Culture, Spirituality, and Community CHICAGO (TIP) : The Senior Friendship Group Chicago marked the joyous occasion of Diwali with a vibrant celebration on Sunday, November 12, 2023 at Golf Maine Park District, 8800 […]
Indian Americans
OBITUARY
It is with deepest sorrow that we inform you of the untimely and sad passing of our beloved Vinod Kotahwala on February 11th in Tucson Arizona. He was a wonderful man who was loved, is […]
Bollywood
Nawazuddin mentions Hrithik in Kangana’s Tiku Weds Sheru
It came as a surprise when actor Nawazuddin Siddiqui mentioned actor Hrithik Roshan’s name during the promotion for Tiku Weds Sheru, a film produced by Kangana Ranaut. For the unversed, Kangana and Hrithik were at […]
1 Trackback / Pingback