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BSE can trade in SGB scheme

The Bombay Stock Exchange has received the RBI approval to start an online bidding platform for Sovereign Gold Bond scheme. The bonds, which are government securities denominated in grams of gold, offer an alternative to holding gold in physical form. The bond is issued by RBI on behalf of government and investors can apply for the bonds at the price as disseminated by RBI. BSE said it has received approval from the RBI for acting as a receiving office for the scheme. It plans to offer an online bidding platform for collecting bids from members and their clients for the SGB issue. This bidding platform is part of the iBBS (Internet-based Book Building System) – the exchange’s existing web-based online bidding platform for IPO, offer for sale, offer to buy issues.

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