SEBI to Boost Gold Receipts (EGRs) as Benchmark, Strengthen Commodity Markets

• SEBI aims to resolve challenges hindering Electronic Gold Receipts (EGRs) from becoming a widely accepted gold price benchmark in India.
• The initiative is part of SEBI's broader strategy to strengthen the commodities market ecosystem and deepen participation.
• SEBI Chairman Tuhin Kanta Pandey highlighted GST-related issues as a friction point and confirmed engagement with the Government for resolution.
• SEBI is forming working groups to address issues faced by exchanges, brokers, FPOs, and is engaging with RBI and IRDAI to allow banks and insurance companies into commodity markets.
• The regulator is also examining the merger of equity and commodity investor protection funds (IPF) to harmonize and safeguard investor interests.

Why It Matters: SEBI is actively working to establish EGRs as a gold benchmark and significantly strengthen India's commodity markets.