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.
Europe
‘Rambo’ kills 3 in Canada, updates FB while on run
Amanhunt is under way in the Canadian city of Moncton after a gunman shot dead three members of the Royal Canadian Mounted Police and left two others injured. Residents of Moncton, a city of about […]
Health
Researchers find immunotherapies for chemotherapy-resistant breast tumor
The researchers have identified immune cell types that could be targeted to create particular immunotherapies for chemotherapy-resistant breast tumours. Researchers from King’s College London and The Institute of Cancer Research, London, with support from Breast […]
Breaking News
Two Indian-origin South African women won International accolades for their exemplary leadership
JOHANNESBURG (TIP): Two young Indian-origin women from South Africa’s Pretoria city, a 21-year-old beauty products entrepreneur and a 30-year-old architect, have won international accolades for their exemplary leadership this week. Beauty products entrepreneur, Rabia Ghoor, […]
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