Way paved for gold exchanges

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Way paved for gold exchanges

The government of India has declared “electronic gold receipts” (EGR) as securities and notified the SEBI (Vault Managers) Regulations, 2021, paving the way for the creation of gold exchanges in India as well as allowing stock exchanges to facilitate the trade.

The recognition of under EGRs as securities has been under section 2(h)(iia) of the Securities Contracts (Regulation) Act, 1956, and notified in the Gazette on 31 December 2021.

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