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.
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Conservative Friends of India and the Indian High Commission Joint Reception at the Conservative Party Conference
BIRMINGHAM, UK (TIP): The Conservative Friends of India and the Indian High Commission jointly hosted a Reception at the annual Conservative Party Conference in Birmingham, October 6.The Reception attended by over 400 guests received rave […]
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The Big Bank Theory: Mergers should not be Tools to hide NPA Mess
The government has opted for a convenient tactic to address the Rs 10 lakh plus crore mess in public sector banks (PSBs). Dena Bank — one of the worst performing PSBs — was forbidden by […]
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Hate crime on train and Nuh’s riots expose majoritarian violence
In a shocking instance of a hate crime, a Railway Protection Force constable shot dead his senior and three passengers on board the Jaipur-Mumbai Central Express near Palghar station in Maharashtra. In a video clip, […]
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