BSE, or the Bombay Stock Exchange, launched Electronic Gold Receipt (EGR) on its platform on 24 October 2022. It introduced two new products of 995 and 999 purity during the Muhurat trading on Diwali.
Bank Maha Pack includes Live Batches, Test Series, Video Lectures & eBooks
Trading will be in multiples of 1 gram and deliveries in multiples of 10 gram and 100 gram. The EGR market will remain open from 9:00 am to 9.30 pm. It will have T+1 settlement. EGR allows efficient price discovery and standardization of gold, transparency in gold transactions, promotion of India Good Delivery Standard and settlement guarantee to the Investors.
India is the second largest consumer of gold globally, with annual gold demand of approximately 800-900 tones, and holds an important position in the global markets. Despite being second only to China, in consumption of gold, India has remained only as a price-taker in the global markets. To address the issue, Government of India have authorized the introduction of a gold exchange where the metal will be traded in Electronic Gold Receipts (EGR) form on Indian exchanges (BSE, NSE etc.).
BSE (formerly Bombay Stock Exchange) is India’s leading exchange group. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
Saurabh Vijay CEO of the Unique Identification Authority of India (UIDAI) has assumed the charge…
For the energy security and sustainable transportation India set to launch the E85 fuel, it…
The Uttar Pradesh Sangeet Natak Akademi (SNA) had honored the 51 distinguished artistes at the…
Foreign exchange reserves of India has a fresh increase during the week was ended on…
Swaminathan Janakiraman reappointed as the Deputy Governor of the Reserve Bank of India (RBI) for…
The Panchayat Advancement Index (PAI) has been awarded with the Gold Award at the National…