HDFC Bank plans to sell 150 kg silver on Akshaya Tritiya

HDFC Bank, which is getting into silver bar retail, is aiming to sell about 150 kg of precious metal on Akshaya Tritiya (May 16).

The bank aims to sell a total of 100-150 kgs of silver bars through 80-85 of its branches spread over 21 cities, HDFC Bank said in a statement.

HDFC Bank is the first ever bank to sell silver bars in India following the huge success with gold coins, it said.

It would be available in 50 gm denomination, it said, adding that the launch provides customers an easy and reliable way of buying silver, a popular investment option, without any worries about the purity of the item purchased.

Silver has traditionally been the most favoured form of investment for Indians next to gold. Even today, India is among the highest consumers of silver in the world, it added.