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.
Breaking News
Consulate General of India with community organizations celebrated the 7th International Day of Yoga
NEW YORK CITY (TIP): The 7th International Day of Yoga was celebrated by Consulate General of India in partnership with a number of community organizations. There was excitement in the build-up to the International Day […]
Science & Technology
Hackers exploiting Google Docs, Outlook users at most risk
Hackers are sending malicious links through comments in Google apps like Docs and Slides primarily to Outlook users—a known vulnerability that has not been fully closed or mitigated by Google since last year, cyber-security researchers […]
Women
Foods for glowing skin
Avocado Packed with antioxidants like lutein and beta carotene, avocados help soften the skin as well as hydrate it if applied topically. You can use a moisturising mask of avocado with 1 teaspoon honey to […]
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