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An ‘Electronic Gold Receipt’ (EGR) is an electronic receipt issued on the basis of deposit of underlying physical gold in accordance with the regulations made by SEBI. SEBI had, in September 2021, given its nod for setting up a gold exchange wherein the gold will be traded in the form of an EGR. SEBI had then said that any recognised stock exchange, existing as well as new, can launch trading in EGRs in a separate segment. In December 2021, the Finance Ministry has specified EGR as ‘securities’ under the Securities Contracts (Regulation) Act 1956, paving way for trading of such instruments on any new gold exchanges that may come up in the country. This move would also enable trading of EGR in existing exchanges under a separate segment. Like shares, EGRs will be held in demat form and can be converted into physical gold when needed. With this move, EGR will have trading, clearing and settlement features akin to any other securities. Conceptual discussions in live classes for solid foundation of concepts
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