RBI okays bse’s online bidding platform for SGB Scheme
BSE, Asia’s oldest bourse, has received the Reserve Bank approval to start an online bidding platform for Sovereign Gold Bond Scheme. SGBs - government securities denominated in grams of gold - offer an alternative to holding gold in physical form. The bond is issued by RBI on behalf of government and investors can apply for the bonds at the price as disseminated by RBI. In a circular BSE said, it has “received approval from the Reserve Bank of India (RBI) for acting as a receiving office for the Sovereign Gold Bond scheme”. The exchange plans to offer an online bidding platform for collecting bids from members and their clients for the SGB issue.