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.
India's Anahat Singh has won for the first time ever the World Junior Squash title…
Sarnath, an ancient Buddhist site located in Uttar Pradesh, made it to the UNESCO World…
India’s star weightlifter Mirabai Chanu has won the gold medal in the women’s 48kg category…
Weekly Current Affairs One-Liners Current Affairs 2026 plays a very important role in competitive examinations…
Kargil Vijay Diwas is celebrated on July 26, every year in India in remembrance of…
Pralhad Joshi, a cabinet minister in the Union Government, has been given the additional responsibility…