BSE receives RBI approval to start online bidding platform for Sovereign Gold Bond scheme

Q.  Which bourse (also Asia’s oldest) has received RBI approval to start online bidding platform for Sovereign Gold Bond scheme?
- Published on 06 Jun 16

a. BSE
b. NSE
c. Kolkata Stock Exchange
d. Chennai Stock Exchange

ANSWER: BSE
 
BSE is Asia’s oldest bourse. It has received RBI approval for starting the online bidding platform for Sovereign Gold Bond scheme. SGBs are government securities denominated in grams of gold offering an alternative to holding gold in physical form.
  • Bond is issued by RBI on behalf of government and investors can apply for bonds at prices disseminated by RBI
  • BSE has received approval from the RBI for acting as a receiving office for the Sovereign Gold Bond scheme
  • Exchange plans to offer an online bidding platform which is part of the Internet Based Book Building System
  • BSE said a mock bidding session would also be conducted to test system performance.

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