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NSE refiner standards for BIS – Standard Gold launched by National Stock Exchange

NSE refiner standards for BIS – Standard Gold launched by National Stock Exchange

The launch of NSE Refiner Standards (NRS) for Bureau of Indian Standards (BIS)– Standard Gold was announced by the leading stock exchange of India, the National Stock Exchange on 10 July 2020.

Key Points:

  • The gold bars that are produced in India by the domestic refiners will be facilitated by the NSE Refiner standards for BIS for acceptance to settle gold futures contracts that are traded on the NSE platform.
  • The NSE Refiner Standards for BIS will come into effect from 10 July 2020.
  • The initiative also encourages the ‘Make in India’ program of the government as it furthers the efforts of the government to transition the country into Self-Reliant India.
  • Greater participation of domestic players will be facilitated by the introduction of NRS for BIS – Standard Gold by NSE in the exchange-traded deliverable bullion commodity derivatives by broadening the purview of acceptable bullion commodity so that it can be delivered on the NSE platform.

Note:

  • The National Stock Exchange of India was established in 1992 in Mumbai as the first dematerialized electronic exchange of India.
  • The current chairman of NSE is Girish Chandra Chaturvedi, and Vikram Lamaye is the current Managing Director and Chief Executive Officer.

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