CURRENT AFFAIRS

Detailed explanation-1: -BSE, or the Bombay Stock Exchange, launched Electronic Gold Receipt (EGR) on its platform on 24 October 2022. BSE, or the Bombay Stock Exchange, launched Electronic Gold Receipt (EGR) on its platform on 24 October 2022.

Detailed explanation-2: -BSE opens EGR trading The BSE was the first stock exchange to launch EGRs on its platform on October 25. The BSE said that the move would help in efficient and transparent price discovery of the yellow metal.

Detailed explanation-3: -The Instruments representing gold in electronic form is termed as Electronic Gold Receipts (EGRs) and is notified as securities, with trading, clearing and settlement features similar to other securities that are currently available in India. BSE is the first exchange in India to launch Electronic Gold Receipts (EGR).

Detailed explanation-4: -What are Electronic Gold Receipts (EGRs)? Electronic Gold Receipts or EGR is an instrument representing gold in electronic and Demat form and are notified as securities, with trading, clearing and settlement features. The gold exchange will facilitate the trading of gold in the form of EGRs.

Detailed explanation-5: -BSE said the buyer could convert the physical gold into an EGR by depositing the yellow metal at the designated delivery centre. After the gold is sourced, a depository receipt is created for trading on BSE. For example, a buyer can sell the EGR or convert it to physical gold.