- Earlier, the BSE received in-principle approval from the SEBI in February 2022, after which it conducted several mock-trading sessions for its members to facilitate trading in EGRs.
- As per the BSE, EGRs will cater to both, buyers and sellers that include individual investors, as well as commercial participants along the value chain viz. importers, jewelry manufacturers, bullion traders, banks, refiners, and retailers.
- The BSE further added that the EGR platform will provide greater assurance in the quality of gold supplied, transparency in transacting, and efficient price discovery.
- Electronic Gold Receipts are e-receipts issued on the basis of a deposit of physical gold (similar to equity shares).
- BSE is a securities market in India and was founded in 1875 as the Native Share and Stock Brokers' Association in Mumbai, Maharashtra. The current CEO and MD of the company are Ashish Kumar Chauhan.
- SEBI is a Government of India-owned market regulator and was established in 1992 with its headquarters in Mumbai, Maharashtra. The current Chairperson of the company is Madhabi Puri Buch.
Question:
Q.1 Who approved BSE to introduce EGR on its platform?a. RBI
b. SEBI
c. NABARD
d. SIDBI
