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