Product specifications pertaining to the Electronic Gold Receipts (EGR) segment in India

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..... ) segment in India 1. SEBI vide Circular no. SEBI/HO/CDMRD/DMP/CIR/P/2022/07 dated January 10, 2022, has issued framework for operationalizing the Gold Exchange in India and vide SEBI Circular no. SEBI/HO/CDMRD/DMP/P/CIR/2022/19 dated February 14, 2022, has issued Standard Operating Guidelines for the Vault Managers and Depositories in Electronic Gold Receipts (EGR) segment. 2. The framework, in .....

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..... n the 'trading unit', which shall be specified by the stock exchanges. The stock exchanges shall ensure that trading unit is not smaller than 10th part of the corresponding deposit unit. For example: On deposit of 100gm gold bar, 1 EGR may be created of 100 gm trading unit or 10 EGRs may be created of 10gm each trading unit. 3.3. The 'settlement unit' of EGR shall be same as 'trading unit', whic .....

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..... / delivery unit shall be clearly spelt out in the contract specifications of the exchange. 4. At the time of creation of EGR, the beneficial owner of gold shall specify the trading unit of EGR, to the Vault Manager. 5. This Circular shall come into force with immediate effect. 6. The Exchanges shall: 6.1. take steps to make necessary amendments to the relevant bye-laws, rules and regulations .....

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