Page 38 - Bullion World issue 2 June 2021

Bullion World | Issue 02 | June 2021
Bullion W
orld | Issue 02 | June 2021
Sovereign Gold Bond Scheme
2021-22 Series I-VI key dates
released. Check complete details

The Finance Ministry released the calendar for six trances of the
government’s Sovereign Gold Bond Scheme 2021-22 Series I-VI for the
entire year.
The first tranche of Sovereign Gold Bond Scheme 2021-22 will open for
subscription on May 17, the Finance Ministry said in a statement. The
SGBs for the financial year 2021-22 (FY22) will be issued in six tranches
from May 2021 to September 2021, it added.

The Finance Ministry also released the calendar for six trances of the
government’s gold bond scheme for the entire year.

Source: https://www.timesnownews.com

extending gold loans have notched
Gold import jumps to up double-digit growth last year by
providing easier means of finance when
$6.3 billion in April COVID-19 cramped the economy and
raised unemployment. Though official
figures are yet to be released, most of
Akshaya Tritiya, a highly auspicious them estimate an average growth of 15-
day to purchase gold, also saw muted 20 percent or more last year.
sales this year
Gold import, which has a bearing Muthoot Fincorp Ltd, one of the leading
on the country's current account gold loan NBFCs, saw a 28 percent
deficit (CAD), zoomed to $6.3 billion Gold loans by NBFCs growth in 2020, the highest in the last
few years.
for the month of April due to a surge
in domestic demand, according to grew 20% in 2020 amid
the Commerce Ministry data. Silver COVID-19 pandemic Source: https://www.moneycontrol.com
imports during the month, however,
dipped by 88.53 per cent to about
$11.9 million. Gold import stood at Aided by an uptick in gold prices, non-
$2.83 million (Rs 21.61 crore) in April banking financial companies (NBFCs)
2020, the data showed.

Source: https://www. SEBI unveils roadmap
thehindubusinessline.com for bullion trading

Proposes Electronic Gold Receipts to
bring in transparency
Indian investors will soon see a new
class of security known as Electronic
Gold Receipts (EGR) that will be
available for trading on the stock
exchanges. Like shares, these EGRs
will be held in demat form and can conversion from physical gold to EGRs,
be converted into physical gold when trading of EGRs and again conversion of
needed. This is part of SEBI’s plan EGR back to physical gold. An interface
to allow trading of spot gold on the will be developed between the vault
exchange platforms. managers (of physical gold), depositories
(that hold EGRs in demat) and stock
One nation, one price exchanges and clearing corporations that
As per a SEBI paper put out for public clear the trade. Making EGR fungible and
comments, EGR trading will attract a allowing inter-operability between vault
Securities Transaction Tax (STT) and managers are being considered.
GST from the beginning. A working
group on spot gold exchange has Source: www.thehindubusinessline.com
recommended that the entire trading
be done in three tranches that include

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