Sebi board approves framework for gold exchange

board on Tuesday approved framework for gold exchange, approved creation of social stock exchange

Instrument representing gold will be called “Electronic Gold Receipt” (EGR). EGR will have trading, clearing and settlement features akin to other securities, said the market regulator.

The board cleared proposal to create social stock exchange for raising funds by social enterprises.

also decided to relax eligibility requirements related to superior voting rights shares. Sebi board approved proposal to amend de-listing framework after open offer and Investors Charter for securities market.

“If there is any violation of regulations in Zee-Sony merger case, we will look into it,” said Sebi Chairman Ajay Tyagi after the board meeting. Can’t specify timeline for social stock exchange, will coordinate with government to take it ahead, said Tyagi.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Share Market Today