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of <h1>SEBI Sets Guidelines for Vault Managers & Depositories in EGR Segment: Compliance, Governance, Security, and Record-Keeping Mandated.</h1> The Securities and Exchange Board of India (SEBI) issued guidelines for Vault Managers and Depositories in the Electronic Gold Receipts (EGR) segment to ensure compliance and effective implementation of regulations. Vault Managers must maintain a financial security deposit and adhere to corporate governance standards, infrastructure requirements, and insurance coverage. They must also ensure reconciliation between physical gold and electronic records, manage storage charges, and have procedures for default in payments, safety, and security. The guidelines include processes for depositing gold, creating EGRs, withdrawing gold, and extinguishing EGRs, with specific cut-off times and error rectification procedures. Vault Managers and Depositories must maintain records and have a grievance redressal mechanism.
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