Currently, ETFs use T-2 day closing NAV as the base price and are subject to fixed price bands of +20% (and +5% for Overnight ETFs). The proposal suggests revising the base price to T-1 metrics such as closing price, closing NAV, average iNAV, or latest iNAV. It also recommends differentiated price bands, i.e. +10% initial band (flexible up to +20%) for equity/debt ETFs, +6% initial band (flexible in stages) for gold/silver ETFs and continuation of +5% for Overnight ETFs. The comments/ feedback from stakeholders is invited.