CanBank launches gold coins scheme

Canara Bank forayed into the retail sale of gold coins on the auspicious day of 'Akshaya Tritiya' today. To begin with the bank will sell gold coins in the denomination of 5, 8, 10 and 20 gm through 18 designated branches across the country. It will be later extended to 100 branches.

Launching the sale, here today, Canara Bank Chairman and Managing Director M B N Rao said the bank would import these coins from Switzerland which will be of 999.9 fineness popularly known as 24 carat and supply to customers in tamper-proof certified cards.

The price of coins is fixed based on the market rate of gold on a daily basis.

Depending on the customers' response to the retail gold coin sales, the bank will introduce coins in higher denominations in future, Rao said.

In yet another gesture as part of its corporate social responsibility, Canara Bank donated a high-tech ambulance to Jayadeva Institute of Cardiology, which offers cardiac treatment and care.