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.
Women
Period myths you need to set straight
All women have to suffer the agony of menstruation but much more incessant is the dark cloud of cultural nuances that hammer us down. Poor thing is that the infiltrators of this half-believed, half-cooked knowledge […]
United States
SENATOR BROOKS ANNOUNCES SMART, LIRR WORKERS UNION, ENDORSES RE-ELECTION CAMPAIGN
Union Representing LIRR Workers Highlights Senator Brooks’ Commitment to Affordability LONG ISLAND, N.Y. (TIP): Senator John Brooks (D-Seaford) announced the endorsement of Sheet Metal, Air, Rail, Transportation (SMART) Workers, Transportation Division, the largest union that […]
As I See It
Is Victory for Ukraine Worth Risking Nuclear War?
“The Ukrainian war, now a month old, has demonstrated the utility of nuclear weapons. Putin’s credible threat to use them has caused the U.S. and NATO to flatly refuse Kyiv’s request to put a no-fly […]
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