Mutual Funds can hold gold certificates in physical form: Sebi

Mutual Funds can hold gold certificates in physical form: Sebi

Mumbai: Market watchdog Sebi has allowed Mutual Funds to hold gold certificates issued by banks in the physical forms as well, in addition to the ones in demat form, for investments made in Gold Deposit Schemes. So far, 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 (Gold Deposit Scheme) can be held by mutual funds in dematerialised or physical form," the Securities and Exchange Board of India (Sebi) has said in a circular. Sebi said the circular has been issued "to protect the interests of investors in securities and to promote the development of, and to regulate the securities market". Earlier this year, the market watchdog had allowed gold ETFs of mutual funds to invest in GDS of banks, as part of its efforts to utilise idle assets of the precious metal for more productive purposes.

National Housing Bank's Rs 2,100 crore tax-free bonds to hit market soon: CMD

New Delhi: The Rs 2,100-crore tax-free bond issue of National Housing Bank will hit the markets soon, a top official of the housing finance regulator said. "We should be opening it soon now. Of the total Rs 3,000 crore, we have already mobilised Rs 900 crore through private placement. Rs 2,100 crore is what we need to raise. And for that we are coming to the market very soon," National Housing Bank (NHB) chairman and managing director R V Verma told reporters here. The bond will be issued in tenors of 10, 15 and 20 years. NHB, the regulator for housing finance companies, was permitted this year to issue tax-free bonds of up to Rs 3,000 crore. Of this, NHB had already raised Rs 900 crore through private placement in August.

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