Sebi comes out with operating guidelines for depositories, vault managers

This is the minimum amount which has to be maintained with depository at all points of time.

New Delhi: Capital markets regulator Sebi on Monday came out with standard operating guidelines for the depositories and vault managers in respect of electronic gold receipts (EGR).

Vault manager will be registered and regulated as a Sebi intermediary for providing vaulting services meant for gold deposited to create EGRs. The vault managers are mandated for creation and extinguishment of EGRs.

The depositories will create and manage a common interface accessible to all the stakeholders in the gold exchange ecosystem -- vault managers, depositories, stock exchanges, clearing corporations and clients/investors.