The Securities and Exchange Board of India (SEBI) has asked registered investment advisors (RIAs) to refrain from dealing in unregulated products including digital gold.
In a statement, the capital markets regulator stated that some registered
The SEBI release clarified that undertaking such unregulated activity including dealing in digital gold (advisory, distribution, and execution/ implementation services) by RIAs may entail
Sovereign gold bonds
Meanwhile, in consultation with the Reserve Bank of India, the Government of India has decided to issue sovereign gold bonds. The bonds will be issued in four tranches from October 2021 to March 2022. They will be sold through scheduled commercial banks (except small finance banks and payment banks), the Stock Holding Corporation of India, the Clearing Corporation of India, designated post offices, and recognised stock exchanges – the National Stock Exchange of India and the Bombay Stock Exchange. The bonds will only be available for purchase by residents, HUFs, trusts, universities, and charitable institutions. The investors will be paid a fixed rate of 2.5% per year on the nominal value, payable semi-annually, the RBI stated in a release.