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SEBI clears norms for gold exchanges

  • Integrity Education, Delhi
  • 29, Sep 2021
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  • The regulator has approved the framework for spot trading of gold in India.
  • Existing stock exchanges will be allowed to provide the platform for trading of EGRs, SEBI
  • Under the framework, so-called vault managers can accept gold deposits and issue securities called electronic gold receipts (EGRs).
  • These EGRs can be traded as any other securities (like stock options or stock futures) in exchanges as a separate segment.
  • Exchanges can decide the denomination of the EGRs.
  • Investors can hold the EGRs as long as they wish or convert it to the underlying gold by surrendering the instrument to any vault manager.