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SEBI proposes price bands for gold and silver ETFs

The unprecedented volatility in the prices of gold and silver in recent weeks has prompted markets regulator Sebi to have a closer look at the price bands and circuit filters for exchange traded funds (ETFs).

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Sebi proposed to put +/-20% price bands on ETFs on two precious metals, gold and silver. Part of the price band could also depend on the volatility in prices of these metals in the international markets, Sebi said. The regulator is also proposing graded price bands for ETFs on debt and equity indices, with a similar +/-20% range.

In the seven-page consultation paper, Sebi proposed an initial price band of +/-6% for gold and silver ETFs, which may be flexed up to +/-20% during the trading day subject to a cooling off period.

After exhausting the initial price band there will be a cooling-off period of 15 minutes, thereafter the price band will be flexed by 3%. In case the price movement in the international markets is more than the aggregate daily price limit (DPL) of 9%, the same may be further relaxed in stages of 3% by the exchange with a cooling-off period of 15 minutes. The single day maximum variation of +/-20% would be applicable

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Rajiv Jain Elected Chairman Of Jaipur Jewellery Show

The members expressed their confidence that, under his leadership, JJS will continue to achieve new milestones while further strengthening its position as one of the country’s premier gem and jewellery exhibitions.

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The Jaipur Jewellery Show Organising Committee has unanimously elected  Rajiv Jain as the Chairman of Jaipur Jewellery Show (JJS).  Rajiv Jain is a distinguished industry leader with decades of exemplary service to the gem and jewellery sector and had held many important positions.

A few of the key positions held by him are: Past Chairman, Gems & Jewellery Export Promotion Council (GJEPC), sponsored by the Ministry of Commerce & Industry, Government of India; Chairman, Confederation of Indian Industry (CII), Rajasthan; Founder Chairman, Museum of Gems & Jewellery, Jaipur; and Past Chairman, Indian Institute of Gems & Jewellery, Jaipur (IIGJ Jaipur).

Rajiv Jain succeeds Vimal Chand Surana, who has served as the Chairman of JJS for the past 19 years. Under his visionary leadership, Jaipur Jewellery Show has evolved into one of India’s most respected and successful gem and jewellery exhibitions. In recognition of his distinguished service, exemplary leadership, and invaluable contribution to the growth of JJS, the Organizing Committee has unanimously named him as the Patron of Jaipur Jewellery Show.

Following these appointments, the Executive Committee of Jaipur Jewellery Show (JJS) is constituted as under: Vice Chairman,  Dinesh Khatoria; Secretary,  Kamal Kothari; Joint Secretary,  Ajay Kala; Joint Secretary,  Ashok Singhi; and Treasurer, Dr. Nawal Agrawal.

The members conveyed their heartfelt congratulations to Shri Rajiv Jain on his unanimous election as Chairman and expressed their confidence that, under his leadership, Jaipur Jewellery Show will continue to achieve new milestones while further strengthening its position as one of the country’s premier gem and jewellery exhibitions.

The Organizing Committee looks forward to the continued support and active cooperation of all Committee Members and Sub-Committee Members in carrying forward the vision and legacy of Jaipur Jewellery Show.

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