SEBI to examine challenges preventing electronic gold receipt acceptance: Chairman
The review aims to strengthen the commodities market and boost participation, with key focus on GST-related issues that participants see as a barrier to EGR liquidity and adoption
SEBI to examine challenges preventing electronic gold receipt acceptance: Chairman
New Delhi: SEBI Chairman Tuhin Kanta Pandey has said the market regulator will closely ex-amine the key issues that are preventing Electronic Gold Receipts (EGRs) from evolving into an effective and widely accepted benchmark for gold price discovery in India.
Speaking at an event organised by the Commodity Participants Association of India (CPAI), Pandey said the regulator is analysing a range of structural, operational and regulatory challeng-es that have limited the adoption of EGRs since their introduction.
The review forms part of SEBI’s broader strategy to strengthen the commodities market ecosys-tem and deepen participation across commodity segments.
One of the critical areas under scru-tiny is the impact of Goods and Services Tax (GST)-related issues, which market participants believe may be acting as a friction point for liquidity and wider acceptance of EGRs.
