Digital gold push: NSE targets 300 tonnes through Electronic Gold Receipts
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The National Stock Exchange aims to convert 200 to 300 tonnes of gold into Electronic Gold Receipts over the next 12 months.
- ✓Sriram Krishnan said, "It is an intrinsic change that we are trying to bring about." This move helps reduce gold imports by using domestic recycled gold for digital trading.
Story at a Glance
- Category
- Indian Markets
- Reported By
- cnbctv18
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Sriram Krishnan, Chief Business Development Officer (CBDO) at the NSE, said the exchange is encouraging investors to shift from physical gold to regulated digital gold. So far, EGRs have been created entirely using domestic recycled gold. The larger goal is to reduce India's gold imports and eventually help the country emerge as a global price setter in the bullion market.
The National Stock Exchange (NSE) aims to convert 200 to 300 tonne of gold into Electronic Gold Receipts (EGRs) over the next 12 months, according to Sriram Krishnan, Chief Business Development Officer at the NSE. The targeted volume represents more than a third of India's total annual gold imports.
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