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Indian Gold Coin now available with three more banks

IANS  |  New Delhi 

Aiming to cater to the gold demand in the country during the ongoing festive season, three more banks - Bank, and - have partnered with to retail the Indian Gold Coin across the country, a statement said here on Thursday.

The coins are now available at outlets across India along with branches of seven banks in total.

"With the new partnerships, the network selling the sovereign gold coin is now around 300 outlets for the auspicious gold buying occasion - Dhanteras that falls on Friday, October 28 this year," the joint statement by and the World Gold Council said.

The other banks, which were already selling gold coins were Indian Overseas Bank, Vijaya Bank, and

The Indian Gold Coin is available in denominations of 5 and 10 gm coin and 20 gm bar.

"This Diwali, banks have become the lead distribution channel for Indian Gold Coin. Within one year of launch seven leading banks in India are retailing the national gold coin. We will continue to partner with more banks to widen the distribution," said Ved Prakash, Chairman and Managing Director, MMTC.

"We are expecting Indians to celebrate the festival by buying the Indian Gold Coin - India's first sovereign gold coin. The purchaser of an Indian Gold Coin directly contributes towards the economic growth of the nation and it will also aid in recycling of gold through transparent buy-back option available at MMTC showrooms," he added.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 27 2016. 14:50 IST