 "sebi")
The Securities and Exchange Board of India's (Sebi's) board on Monday decided to allow non-banking custodians to manage gold-exchange traded funds (ETFs) and other gold-related products. Banking custodians can continue to provide these services, it stated after a meeting.
The board decided to bring amendments to the SEBI (Mutual Funds) Regulations, 1996, in this regard.
Gold ETFs were permitted 13 years ago by a special notification, allowing the market watchdog Sebi to regulate them despite the underlying asset being a commodity.
After the meeting, Sebi stated: "In order to reduce concentration of custodial services for gold or gold-related instruments, the board approved the
