IndusInd Bank ties-up with World Gold Council

IndusInd Bank signed a co-partner agreement with the World Gold Council (WGC) today for joint promotion of packaged and certified gold coins and ingots in India.

IndusInd Bank introduced sale of imported 24 carat pure Swiss Gold with a view to providing complete financial and investment solutions to its customers and non-customers, under the brand name “Suvarna Mudra. The gold coins are available in denominations of 5gm, 10gm and 50gm across all 180 branches of the Bank.

Founded in 1987, the World Gold Council is an organisation formed and funded by the world's leading gold mining companies with the aim of stimulating and maximising the demand for, and holding of Gold. A global advocate for gold, WGC aims to promote the demand for gold in all forms through marketing activities in major international markets.

 

Speaking about the tie-up Mr Romesh Sobti, Managing Director & CEO, IndusInd Bank said, “India has witnessed a spurt in demand for gold not only for the auspicious beliefs attached with it but also because it continues to be an attractive investment option. Our association with an international organization such as WGC will further enhance this product offering to our customers and also help grow the category.”

Adding to this, Mr Sumant Kathpalia, Head - Consumer Banking said, “At IndusInd Bank, it is our constant endeavor to cater to all the financial needs of our customers. As an extension to this, our partnership with WGC will enable us to utilise the research and findings with respect to consumer’s gold buying patterns both in the domestic as well as the international markets. WGC too will be able to capitalise on our vast branch network to promote and market Gold. We are happy to have partnered with such a renowned institution and I hope that we together will be able to derive maximum value out of this partnership.”

“India is the largest consumer of gold in the world but with it comes many challenges such as the unorganized nature of the industry, accessibility issues by mass Indians, reach of good quality products etc. At the World Gold Council, our endeavor has always been to support Strategic Partners like the IndusInd Bank who have a vision to promote good quality gold products at a retail level and thereby help organize the market” said Ajay Mitra, Managing Director, World Gold Council – India.

About IndusInd Bank
IndusInd Bank Ltd. is one of the new-generation private-sector banks in India which commenced its operations in 1994. The Bank currently has a network of 180 branches, spread over 147 geographical locations in 28 states and union territories across the country. The Bank also has a Representative Office each in Dubai and London.

The Bank is driven by state-of-the-art technology since its inception. It has multi-lateral tie-ups with other banks providing access to more than 18000 ATMs for its customers. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and three major commodity exchanges in the country – MCX, NCDEX, and NMCE. It also offers DP facilities for stock and commodity segments.

IndusInd Bank has been awarded the highest A1+ rating for its Certificates of Deposits by ICRA and the highest P1+ rating for its FDs by CRISIL, which has also assigned the highest safety ratings to the Bank’s Pass through Certificates for securitized assets.
Visit us at www.indusind.com

About World Gold Council
The World Gold Council (WGC), a commercially-driven marketing organisation, is funded by the world’s leading gold mining companies. A global advocate for gold, the WGC aims to promote the demand for gold in all its forms through marketing activities in major international markets. Visit us at www.gold.org.