Mumbai, Sep 28 (IANS): Securities market regulator SEBI on Tuesday approved a slew of investor and business-friendly measures including creation of Gold and Social Stock Exchanges, amongst others.
These decisions were taken by the SEBI board which met here.
In a statement, the regulatory body listed the various decisions that were taken during the meeting such as approval for the framework for Gold Exchange and SEBI (Vault Managers) Regulations, 2021.
"The 'Gold Exchange', encompassing the entire ecosystem of trading of 'EGR' and physical delivery of gold, is expected to create a vibrant gold ecosystem in India commensurate with India's large share of global gold consumption," the regulator said.
"The 'Gold Exchange' would be a national platform for buying and selling 'EGRs' with underlying standardised gold in India and also create a national pricing structure for gold."
Besides, the board approved the creation of the Social Stock Exchange (SSE) for fund raising by social enterprises.
"The framework for the SSE has been developed on the basis of the recommendations of a working group and a technical group constituted by the SEBI."
The board also approved the proposal to amend the existing regulatory framework for delisting of equity shares pursuant to open offer.
"The revised framework aims to make M&A transactions for listed companies a more rational and convenient exercise, balancing the interest of all investors in the process."