SEBI aims to vault-manage all bullion trades by September 1

Why in news

SEBI proposed bringing all bullion trades under vault management rules to strengthen oversight of the digital bullion market and expand the Electronic Gold Receipts (EGR) framework.

Background

SEBI aims to expand the EGR framework to cover all physical bullion underlying SEBI-regulated products, including bullion exchange-traded funds (ETFs) and derivatives. The proposal includes a circular for EGR frameworks and operational guidelines for vaulting services.

Facts for Prelims

• BodySEBI: Securities and Exchange Board of India, the regulator for securities markets in India.
• FactElectronic Gold Receipts (EGR): Digital receipts representing physical gold stored in vaults.
• FactBullion ETFs: Exchange-traded funds that track the price of physical gold.
• FactVault Management: Rules governing the storage and security of physical bullion backing electronic assets.

For Mains

Q. Discuss how the regulation of digital bullion and vault management can enhance investor confidence and transparency in India's capital markets.

Dimensions to cover in your answer

• investor protection
• market transparency
• digital transformation of commodities
• regulatory oversight

Keywords: market oversight · transparency · digital bullion · investor protection · regulatory framework

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