NSE introduced 'Electronic Gold'
In Indian homes, gold has always been not just an investment but a symbol of security, tradition and prosperity. But, whenever we buy physical gold, the biggest concern is its security, locker expenses and making charges. After this, when they go to sell it, many times questions are raised about its purity and money is deducted arbitrarily. To end these problems of the common man forever, the National Stock Exchange (NSE) has taken a big step. NSE has launched 'Electronic Gold Receipts' (EGR) in the market. This is such a digital medium, through which you will be able to buy and sell gold with complete transparency, just like the stock market.
What is 'Electronic Gold' that will remain safe in your demat account?
Actually, EGR is a digital proof of the real gold you have purchased. When you buy it, a fixed quantity of real gold is kept in your name in a highly secure vault monitored by SEBI. The ownership of this gold gets reflected directly in your demat account like shares or bonds. This gold kept in the background is kept safe by licensed vault managers. This entire system includes stock exchanges, clearing corporations and depositories, which together make it a completely regulated and trusted ecosystem.
Start investing with 100 mg of gold
Often investors feel that a huge lump sum amount is required to buy gold. But electronic gold has broken this notion. The biggest feature of this new digital system is its accessibility. Now there is no need to buy huge quantities of gold for investment. EGR is available in many types of units on this platform of NSE. You can buy 1 kg, 100 grams, 10 grams, 1 gram and even 100 mg (which is equivalent to a small seed) gold as per your financial capacity. This flexibility has opened the doors of investing in gold for investors of every income group.
100% purity guarantee, 999 and 995 purity assurance
When we buy gold from the general market, the standards of hallmarking and the fear of adulteration always remain in our mind. EGR eliminates this problem from its roots. These digital receipts trade only in internationally recognized 999 (considered the purest form of 24-karat) and 995 purity gold. Because this gold is completely certified and guaranteed, investors do not have to worry about any kind of quality.
What will be the benefit to the common investor?
At present, gold prices in our country keep changing from city to city and jeweler to jeweler. The main objective of the EGR system is to give a direction to this scattered market, so that a transparent and market based rate of gold can be decided across the country. Retail investors, jewellers, bullion traders and refineries will all connect together on this platform. In the long term, its objective is to make India a country that decides the prices of gold globally. On this entire initiative, Chief Business Development Officer of National Stock Exchange, Shriram Krishnan says that the launch of EGR is a big change in the way of connecting with gold in India.
Disclaimer: This article is for information only and should not be considered as investment advice in any way. TV9 Bharatvarsha advises its readers and viewers to consult their financial advisors before taking any money related decisions.
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