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.
Entertainment
Margot Robbie reveals she was asked to push ‘Barbie’ release by ‘Oppenheimer’ producer
In recent times, ‘Barbie’ actress Margot Robbie and ‘Oppenheimer’ actor Cillian Murphy got together to talk about their works in an episode of Variety’s ‘Actors on Actors.’ This is when the actress told Cillian that […]
Astrology
Birthday Horoscope- March 20 to March 26, 2023
March 20 Ganesha says you would take charge of your team and successfully accomplish a variety of difficult projects. You are about to enter a noteworthy phase that will benefit your career greatly. You would […]
World
Ozone hole over Antarctica larger than usual, scientists say
Berlin (TIP): Scientists say the hole in the Earth’s protective ozone layer over the Southern Hemisphere is larger than usual this year and already surpasses the size of Antarctica. The European Union’s Copernicus Atmosphere Monitoring […]
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