MFs can hold gold certificates in physical form: SEBI

India Infoline News Service | Mumbai |

Till now, MFs were allowed to hold such gold deposit certificates only in dematerialised or electronic forms

Capital market regulator SEBI (Securities and Exchange Board of India) on Friday allowed mutual funds to hold gold certificates issued by banks in the physical forms, in addition to the ones in demat form for investments made in gold deposit schemes.

Till now, MFs were allowed to hold such gold deposit certificates only in dematerialised or electronic forms.

"Gold certificates issued by Banks in respect of investments made by Gold ETFs in GDS can be held by mutual funds in dematerialized or physical form," SEBI said in a circular on Friday.


 

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