Budget 2021: FM names Sebi as regulator of proposed spot gold exchange

The FM also proposed to introduce an investor charter as a right of all financial investors across all financial products

The onus to regulate the proposed exchange for spot gold has fallen on the Securities and Exchange Board of India. The statutory body currently regulates the equities market along with commodity futures market.

“In the budget of 2018-19, government had announced its intent to establish a system of regulated gold exchanges in the country. For the purpose, Sebi will be notified as the regulator and the Warehousing Development and Regulatory Authority (WDRA) will be strengthened to set up a commodity market eco system arrangement including vaulting, assaying, logistics etc in addition to warehousing,” Finance Minister Nirmala Sitharaman said in her budget